IRB InvIT Fund reports Q1 revenue of Rs 151 crore

Mumbai: IRB Infrastructure-sponsored IRB InvIT Fund on Saturday reported revenue of Rs 151 crore for the April-June quarter.

"The trust recorded a revenue of Rs 151 crore for the Q1 FY 2018 (period of 53 days)," the company said in a statement issued here.

The InvIT also announced distribution of cash flow of Rs 90 crore to its unit holders at Rs 1.55 per unit, out of which Rs 1.05 per unit is in the form of interest and Rs 0.50 per unit in the form of return of capital, it said.

"This annualised payout is 12.6 percent, which is in line with our expectations. We would endeavour to make distribution every quarter as against the minimum stipulation of half yearly distribution," a company spokesperson said.

Further, the Board of Investment Manager of IRB InvIT Fund considered an offer for sale by sponsors of the trust, IRB Infrastructure, of 100 percent stake in their Pathankot-Amritsar Project.

The trust, set up to own, operate and maintain portfolio of toll road concessions, is managing six operational road assets at present, with an aggregate value of approximately Rs 5,921 crore in Maharashtra, Gujarat, Rajasthan, Karnataka and Tamil Nadu.