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REITs-InvITs company India Grid Trust announced Q1FY24 results:
- Consolidated revenue for Q1FY24 was up 12% YoY to Rs 6,292 million
- Consolidated EBITDA was up 11% to Rs 5,669 million
- Net Distributable Cash Flow (NDCF) saw a YoY growth of 50% at Rs 1,734 million for Q1FY24
- The Board of the Investment Manager approved a Distribution Per Unit (DPU) of Rs 3.45 for Q1FY24, to unitholders in line with the distribution guidance of Rs 13.80 per unit for FY24
- Virescent acquisition process on track, SEBI approval in place
Commenting on Q1FY24 results, Harsh Shah, Chief Executive Officer and Whole Time Director of IndiGrid said, “I am pleased to report that we have reported yet another quarter of strong financial performance. Our robust operations and steady acquisitions have allowed us to maintain the growth momentum and keep us on track to meet the FY24 distribution guidance of Rs 13.80 per unit.
Going forward, we will continue to focus on generating superior and sustainable returns for our investors on the back of our AAA-rated balance sheet, resilient operations, and accretive acquisitions.
We are optimistic about the growth potential of the power transmission and renewable sector in India on the back of supportive regulatory policies and growing investments. We believe we are well-positioned to tap into the opportunities in transmission, solar sector, and other related adjacencies in the country.”
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