IndiaGrid net jumps over 2-folds to Rs 131.83 cr in Q3

Infrastructure investment trust IndiGrid consolidated net profit jumped more than two folds to Rs 131.83 crore in the quarter ended on December 31, 2019, mainly due to higher revenues.

The company's consolidated net profit was Rs 51.51 crore in the October-December 2018, a BSE filing said.

Revenues of the firm rose to Rs 344.91 crore in the quarter from Rs 172.72 crore in the year-ago period.

The Board of Directors of Sterlite Investment Managers Ltd (SIML) acting in the capacity of Investment Manager of India Grid Trust (IndiGrid) has approved distribution of Rs 3 per unit (in the form of Interest) for the third quarter of 2019-20.

IndiGrid said that it is on track to achieve its stated DPU (distribution per unit) guidance of Rs 12 for FY2019-20.

Commenting on the quarterly results Harsh Shah, Chief Executive Officer, said, "With a strong shareholder base, consistent operating performance, a robust pipeline for growth and conducive regulatory environment, we are confident to achieve our guidance for FY20 as well as execute our growth plans."