Mumbai: India Grid Trust (IndiGrid) on Monday reported revenue of Rs126 crore for the quarter ended 31 December.
The InvIT, promoted by Sterlite Power Grid Ventures, recorded net distributable cash flow of Rs101.3 crore for the October-December quarter of FY18, the firm said in a statement issued in Mumbai. The board of Sterlite Investment Managers acting as the investment manager of the trust has approved a distribution per unit of Rs2.89 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 Rs1,500 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 (CEO) 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.