IndiGrid Q3 FY19 revenue up 35% at Rs 171 crore

We are in the last phase of the September quarter earnings season, and the results announced by the BSE 500 companies so far have shown signs of a sharp recovery, as compared to the June quarter, when the economic activity in the country was compromised due to lockdown in various regions. From the BSE 500 list, 216 companies have announced their September quarter results so far. We excluded banking and financial companies.  Along with the index stocks we also analyse each sector quarterly earnings. (Data Source: ACE Equity)

India Grid Trust (IndiGrid) Tuesday reported a nearly 35 per cent increase in revenue at Rs 171 crore for the December 31, 2018 quarter, mainly driven by acquisitions of transmission assets.

The InvIT, promoted by Sterlite Power Grid Ventures, had reported revenues of Rs 126.7 crore in the corresponding quarter last fiscal, the firm said in a statement issued here.

The Board of Sterlite Investment Managers acting as the investment manager of the trust has approved a distribution per unit of Rs 3 per unit for Q3 FY19.

"lndiGrid delivered another strong quarterly performance and is on track to comfortably meet its FY19 distribution guidance. Since listing, we have distributed Rs 18.56 per unit totalling to Rs 5,25.5 crore of distribution. We are committed to provide stable yield to investors through quarterly distributions and growing it by acquiring more projects," IndiGrid chief executive Harsh Shah said.

Currently, IndiGrid owns 16 independent revenue generating assets, including 13 transmission lines of 3360 ckms and three substations of 7,000 MVA capacity across nine states.