Infrastructure investment trust IndiGrid has increased its consolidated net profit by more than 45 per cent to Rs 99.80 crore in the March quarter, mainly on the back of higher revenue. India Grid Trust (Indigrid) consolidated net profit was Rs 68.69 crore for the quarter ended March 31, 2021, showing a regulatory filing. The total revenue for the quarter under review rose to Rs 568.50 crore from Rs 514.09 crore a year ago.
The consolidated net profit has also increased to Rs 343.27 crore in FY 2021-22 from Rs 334.40 crore in 2020-21. Total income increased to Tk 2,274.44 crore in FY, from Tk 1,714.15 crore in 2020-21.
In a separate statement, the company said that for the full year 2021-22, consolidated net distributable cash flow increased by 3 per cent to Rs 944.2 crore. The Board of Investment Manager (Indigrid) has also approved Rs 3.19 per unit distribution (DPU) for FY22 (January-March quarter) Q4 FY22 for unitholders as per the distribution guidelines.
The record date of distribution is May 26, 2022 and will be Rs.2.55 per unit in the form of interest and Rs.064 per unit as capital payment. In addition, IndiGrid has distributed Rs 58.5 per unit to its investors in the last five years since its listing, giving a total return of 108 per cent of the issue price. The total return is the sum of the price changes since the 3rd quarter of FY22 was listed and as of March 31, 2022.
As of March 31, 2022, consolidated net debt / AUM (assets under management) stood at 56 percent, leaving significant debt headroom for future growth, it said.
The Board of IIML (Indigrid Investment Managers Limited) has also mentioned and approved the proposal to increase the loan up to Rs.700 crore through various sources including term loan, non-convertible debentures and / or any other mode which may be approved under applicable law.
The Board has approved the appointment of Divya Bedi Verma as the Chief Financial Officer of IIML, effective from July 1, 2022, replacing Jyoti Kumar Agarwal.
Further, according to the stock exchange filing dated May 7, 2022, Jyoti Kumar Agarwal will take over as the new Chief Executive Officer and full-time Director of Investment Manager of India Grid Trust from Harsh Shah effective July 1, 2022. Agarwal as CFO with IndiGrid from September 2020
Indigrid has more than Rs 21,100 crore (USD 2.72 billion) in assets under management (AUM). IndiGrid’s investment manager is wholly owned by KKR