New Delhi, Aug 6 (PTI) IndiGrid, the country's first infrastructure investment trust in the power sector, on Thursday reported an over two-fold jump in consolidated net profit for the June quarter at Rs 85.61 crore on the back of higher revenues.

The company had reported a net profit of Rs 33.64 crore during the corresponding quarter of the preceding fiscal, it said in a statement.

Also Read | Amit Shah Remembers Sushma Swaraj on Her Death Anniversary Today, Says Her Ideals Will Continue to Inspire Generations to Come.

Consolidated revenues for the quarter increased to Rs 361.17 crore from Rs 203.27 crore earlier.

The board of the investment manager of IndiGrid also approved a distribution per unit (DPU) of Rs 3 for Q1 FY21 entirely payable as interest to unitholders.

Also Read | Siddaramaiah Health Update: Former Karnataka CM, Who Tested Positive for COVID-19, Is Now Stable and Comfortable, Says Manipal Hospital.

Including this 13th distribution, IndiGrid has delivered Rs 36.56 per unit since listing, a total return of 42 per cent as of July 31, 2020, it added.

The management remains focused to maintain a strong balance sheet to successfully weather any near-term COVID-19 related uncertainty, the statement said.

The net debt/AUM (assets under management) stands at 50 per cent as of June 30, 2020, significantly below the 70 per cent cap as per Sebi InvIT regulations.

Infrastructure investment trusts (InvITs) pool funds from investors to invest in assets that generate cash flows over a period of time.

The company's CEO Harsh Shah said, "IndiGrid continues on its growth path despite near-term challenges. The health and safety of our stakeholders and their families remain our top priority, and we are ensuring 100 per cent compliance with Govt's guidelines to maintain safe working conditions."

"Despite operational challenges, the team maintained steady availability of the asset portfolio ensuring uninterrupted power supply during the lockdown....

"We are excited about the opportunities in the power sector and remain optimistic that we would achieve our aim of Rs 30,000 crore AUM by 2022," he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)