India Grid Trust Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
January 25, 2023 at 04:55 am EST
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India Grid Trust reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 5,909.8 million compared to INR 5,708.15 million a year ago. Revenue was INR 6,070.66 million compared to INR 5,809.69 million a year ago. Net income was INR 1,174.31 million compared to INR 924.86 million a year ago. Basic earnings per share from continuing operations was INR 1.68 compared to INR 1.32 a year ago. Diluted earnings per share from continuing operations was INR 1.68 compared to INR 1.32 a year ago.
For the nine months, sales was INR 17,328.8 million compared to INR 16,726.76 million a year ago. Revenue was INR 17,894.46 million compared to INR 17,059.36 million a year ago. Net income was INR 3,206.08 million compared to INR 2,520.8 million a year ago. Basic earnings per share from continuing operations was INR 4.58 compared to INR 3.65 a year ago. Diluted earnings per share from continuing operations was INR 4.58 compared to INR 3.65 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).