India Grid Trust (IndiGrid), a power infrastructure investment trust, reported consolidated revenue of ₹7.72 billion (~$89.53 million) in the third quarter (Q3) of the financial year (FY) 2025, marking a 2.4% year-over-year (YoY) increase from ₹7.54 billion (~$87.45 million).

The company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) jumped 2% YoY from ₹6.81 billion (~$78.96 million) to ₹6.94 billion (~$80.47 million).

The profit for the period was ₹578.04 million (~$6.7 million), a 37% YoY decrease from ₹919.21 million (~$10.66 million) due to an increase in financing costs and tax expenses.

The company owns 41 power projects, consisting of 49 transmission lines with more than ~8,700 ckms length, 15 substations with ~22,550 MVA transformation capacity, ~855 MW of solar generation capacity, and 450 MW/900 MWh of battery energy storage systems. The company’s operational performance is marked by 98.55% transmission availability.

9M FY25

IndiGrid reported consolidated revenue of ₹24.13 billion (~$279.79 million) in the first nine months of FY25, marking a 16% YoY increase from ₹20.78 billion (~$240.95 million).

The company’s EBITDA increased 21% YoY from ₹18.06 billion (~$209.41 million) to ₹21.94 billion (~$254.38 million).

The profit for the period was ₹2.94 billion (~$34.088 million), a 23% YoY increase from ₹2.38 billion (~$27.59 million).

In November 2024, IndiGrid, BII, and the Norwegian Climate Investment Fund managed by Norfund launched EnerGrid, a $300 million platform focusing on developing greenfield transmission and standalone battery energy storage system projects in India. IndiGrid, Norfund, and BII plan to invest $100 million each in the platform. This capital will enable EnerGrid to target projects worth approximately $1.2 billion over the next few years.

Last October, IndiGrid won NTPC Vidyut Vyapar Nigam’s auction to set up 250 MW/500 MWh standalone battery energy storage systems with Viability Gap Funding support at a tariff of ₹236,999 (~$2,819)/MW/month.

In August 2024, IndiGrid launched a preferential issue of shares priced at ₹136.43 (~$1.62) to raise approximately ₹6.95 billion (~$82.7 million). This move followed the successful conclusion of an offer-for-sale managed by its sponsor, KKR, which saw substantial interest from existing and new long-term investors.