Cube Highways Trust managed by Cube Highways Fund Advisor reported its results for the quarter ended 30 June 2024 (Q1).
The total consolidated income for the period stood at Rs 8,309 million, while the consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) for the period was Rs 5,743 million.
Additionally, the board of directors of the Investment Manager declared a distribution per unit (DPU) of Rs 2 to ordinary unitholders for the Q1 of FY 2024-25, amounting to a total distribution of Rs 2,668.9 million.
The record date for the distribution is 09 August 2024, and the distribution payment will be made on or before 14 August 2024.
“The start of FY25 has been encouraging, with our Q1 results demonstrating yet another quarter of solid business performance and consistent returns. The DPU comprises Rs 1.04 per unit as interest, Rs 0.22 per unit as dividend, Rs 0.73 per unit as repayment of SPV loan and Rs 0.01 per unit as treasury income. We are confident in maintaining this performance in the quarters to come," said Pankaj Vasani, Group CFO, Cube InvIT.
As of 30 June 2024, the net debt/ enterprise value stood at 38 per cent, and the portfolio valuation also increased to a total asset under management (AUM) of Rs 287,646 million.
"We have been showcasing consistent growth across our road assets, and the seamless integration of the recently acquired six HAM assets into our portfolio is a validation of the synergistic capabilities of our teams,” said Vinay Sekar, CEO, Cube InvIT.
