India Grid Trust (IndiGrid) reported a total revenue of Rs 8.351 billion for the first quarter of the financial year 2024-25, a 32.7 per cent increase on a year-on-year (YoY) basis. The EBITDA also increased to Rs 7.665 billion, a 35.2 per cent YoY increase. The net distributable cash flow (NDCF) also grew 80.4 per cent YoY to reach Rs 3.130 billion for the quarter.
The increase could be attributed to the revenue from Virescent Renewable Energy Trust (VRET) and ReNew Solar Urja Private Limited (RSUPL). Further, the distribution per unit (DPU) was raised to Rs 3.75 per unit – 8.7 per cent higher compared to first quarter of 2024.
IndiGrid is an Infrastructure Investment Trust (InvIT) in the Indian power sector. In July 2024, Ingrid acquired a 300 MW AC solar asset for approximately Rs 15.5 billion. In April 2024, they had commenced their first greenfield project called Kallam Transmission Limited in Beed, Maharashtra.
