India Grid Trust Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 10, 2023 at 12:31 pm EST
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India Grid Trust reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 6,949.66 million compared to INR 5,810.15 million a year ago. Revenue was INR 7,201.89 million compared to INR 5,959.13 million a year ago. Net income was INR 360.07 million compared to INR 1,222.26 million a year ago. Basic earnings per share from continuing operations was INR 0.51 compared to INR 1.71 a year ago. Diluted earnings per share from continuing operations was INR 0.51 compared to INR 1.71 a year ago.
For the six months, sales was INR 13,242 million compared to INR 11,419 million a year ago. Revenue was INR 13,747.24 million compared to INR 11,823.8 million a year ago. Net income was INR 1,402.27 million compared to INR 2,031.77 million a year ago. Basic earnings per share from continuing operations was INR 2 compared to INR 2.9 a year ago. Diluted earnings per share from continuing operations was INR 2 compared to INR 2.9 a year ago.
India Grid Trust is an India-based infrastructure investment trust (InvIT) in the power transmission sector. The Company owns, operates, and manages power transmission networks and renewable energy assets that deliver reliable power throughout India. It operates through two segments: Power Transmission and Power generation. It owns 36 power projects, consisting of 46 transmission lines with more than 8,468 circuit Kilometers (km) length, 13 substations with around 17,550 mega volt amp (MVA) transformation capacity and about 855 MWAC of solar generation capacity. Its portfolio consists of 19 solar projects across eight states of the country. It also includes 15 operational transmission projects. Its portfolio includes Jabalpur Transmission Company Limited (JTCL), TN Solar Power Energy Private Limited, Universal Mine Developers & Service Providers Private Limited, Maheshwaram Transmission Limited (MTL), and more. Its investment manager is IndiGrid Investment Managers Limited (IIML).