IndiGrid reports Q3 FY18 revenue at Rs 126 crore
India Grid Trust (IndiGrid) today reported revenue of Rs 126 crore for the quarter ended December 31.
The InvIT, promoted by Sterlite Power Grid Ventures, recorded net distributable cash flow of Rs 101.3 crore for the October-December quarter of FY18, 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 2.89 per unit for third quarter of the fiscal.
IndiGrid is also in the process of completing the acquisition of three assets from Sterlite Power Grid Ventures Limited, RAPP Transmission Company, Purulia and Kharagpur Transmission Company and Maheshwaram Transmission worth Rs 1,500 crore. These acquisitions are expected to be consummated in the last quarter of FY18, the company said.
"We are on track to comfortably meet the FY18 distribution guidance. In line with our growth strategy, we are nearing completion of the acquisitions and also pursuing other opportunities," IndiGrid Chief Executive Officer Pratik Agarwal said.
Currently, IndiGrid owns ten independent revenue generating assets, including eight transmission lines of 1,936 ckms and two substations of 6,000 MVA capacity.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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