POWERGRID InvIT's net profit falls 10% to Rs 190 crore

POWERGRID Infrastructure Investment Trust on Thursday reported a 10 per cent decline in consolidated net profit at Rs 190.90 crore in the June quarter.

The consolidated net profit of POWERGRID Infrastructure Investment Trust (PGInvIT) was at Rs 213.88 crore in the quarter ended June 30, 2022, according to a BSE filing.

Total income in the first quarter of the current fiscal declined to Rs 321.06 crore from Rs 331.38 crore in the same period a year ago.

POWERGRID Unchahar Transmission Ltd, the investment manager to the PGInvIT, announced an income distribution of Rs 3 per unit to the unit holders for the June quarter.

It will comprise Rs 2.03 per unit as interest, Rs 0.20 per unit as taxable dividend, Rs 0.24 per unit as exempt dividend, Rs 0.52 per unit as repayment of special purpose vehicle (SPV) debt and Rs 0.01 per unit as treasury income.

The payment will be made by August 11, the filing said.