Cube Highways: Rs 1,164.3 cr profit in H1FY25, Q2 distribution declared

Cube Highways Trust has declared distribution of Rs 2 per ordinary unit for Q2FY25

Infra investment trust Cube Highways Trust, managed by Cube Highways Fund Advisors on Thursday reported a consolidated net profit of Rs 1,164.3 crore for the first half of the financial year 2024-25 (H1FY25), driven by robust performance across its portfolio.

 

The total consolidated income for the period stood at Rs 1,689.1 crore, while the consolidated earnings before interest, taxes, depreciation, and amortisation (Ebitda) was Rs 1,164.3 crore.

 

The Board of Directors of the Investment Manager declared a Distribution Per Unit (DPU) of Rs 2  to ordinary unitholders for the second quarter of FY25, amounting to a total distribution of Rs 266.89 crore. The record date for the distribution is November 4, and the payment will be made on or before November 14.

 

Pankaj Vasani, group chief financial officer of Cube InvIT said , “We are excited to announce our sixth consecutive quarter of stellar performance and consistent returns with a continued focus on cost leadership. We are declaring a DPU (in line with the previous quarter) of Rs 2 per unit, comprising Rs 1.27 per unit as interest, Rs 0.71 per unit as repayment of Special Purpose Vehicle (SPV) loan, Rs 0.01 per unit as dividend, and Rs 0.01 per unit as treasury income.”

 

H1 FY25 revenue and Ebitda grew by 11.5 per cent and 26.8 per cent year-on-year, respectively. Additionally, Cube InvIT continues to maintain AAA/Stable credit ratings from CRISIL, India Ratings, and ICRA. 

As of September 30, the portfolio valuation has increased to a total Asset Under Management (AUM) of Rs 2,916.23 crore. 

At the end of FY24, the company had said that they had plans to acquire seven more road assets, subject to requisite regulatory and unit holder approvals. Of these, six are based on the National Highways Authority of India's (NHAI) Hybrid Annuity Model “where revenues are not contingent on traffic and hence would contribute to a higher revenue stability and yields.”