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Q1FY22 Results: IRB InvIT to Distribute Rs. 1.80 per unit

In Business
August 07, 2021

IRB InvIT, India’s first listed Infrastructure Investment Trust will distribute ~Rs. 104 Crores to the unit holders at the rate of Rs. 1.80 per unit for the first quarter of FY22.

The Board of IRB Infrastructure Pvt. Ltd., an Investment Manager to the IRB InvIT Fund, today announced the financial results of IRB InvIT Fund for the first quarter of FY22.

The Trust has set 12th August 2021 as a record date for distribution and the same will be paid to the unit holders on or before 21st August 2021.

While commenting on the occasion, Vinod Kumar Menon, Executive Director & CEO of the Investment Manager said, “Though we had full quarter operations, unlike only 72 days in the corresponding quarter of FY21, the adverse impact on toll collection was witnessed due to the partial lockdown and restricted business activities in view of the 2nd wave of COVID-19 pandemic. However, these losses are eligible for the compensation in terms of extension of concession period in line with Concession Agreement.” He further added, “We are also eligible to receive compensation for the loss on our Pathankot Amritsar BOT asset which has no toll collection since October 2020 due to the ongoing farmers’ protest in line with recent circular from NHAI which is in line with the concession agreement.”