IRB InvIT reports gross income of Rs 198 cr in Q1

India's first listed infrastructure investment trust IRB InvIT on Thursday reported a gross income of Rs 198 crore in the quarter ended June, down from Rs 323 crore in the same period of the previous financial year.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) in Q1 FY21 totalled Rs 142 crore as compared to Rs 254 crore in Q1 FY20.

The board of directors has declared a distribution of Rs 87 crore to shareholders, translating into a payout of Rs 1.50 per unit for Q1.

The trust has set August 25 as the record date for distribution and the same will be paid to unitholders on or before September 3.

"We had only 72 days operations in the first quarter of FY21 and that too under strict lockdown restrictions mandated by government authorities in view of the outbreak of Covid-19 pandemic," said Executive Director and CEO Vinod Kumar Menon.

"Post relaxations, the operations have started picking pace and normalcy is in sight. Toll collections for our portfolio reached 83 per cent year-on-year in June and continue to improve further," he said in a statement.

IRB InvIT Fund is a trust settled by its sponsor IRB Infrastructure Developers Ltd and is registered under the SEBI's Infrastructure Investment Trust Regulations 2014.

Set up to own, operate and maintain a portfolio of toll road concessions, it is managing seven operational road assets with an aggregate value of Rs 6,500 crore spread across the states of Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu and Punjab.

The weighted average life of assets under InvIT portfolio is about 16 years.

( With inputs from ANI )