Vertis Infrastructure Trust (VERTIS) Q1 24/25 earnings summary

Executive summary

• Approved unaudited standalone and consolidated financial results for the quarter ended 30 June 2024, with statutory auditor's unmodified review report.

• Declared a distribution of INR 4.7637 per unit to unitholders, with payment scheduled on or before 22 August 2024.

• Appointed Mr. Soma Sankara Prasad as Additional Independent Director and Dr. Zafar Khan as Additional Executive Director and Joint CEO, effective 8 August 2024.

• Reconstituted the Investment Committee of the Board.

Financial highlights

• Standalone profit after tax for Q1 FY25 was INR 7,693.39 million, compared to a loss of INR 2,595.37 million in Q4 FY24 and a profit of INR 526.76 million in Q1 FY24.

• Standalone total income for Q1 FY25 was INR 8,516.53 million, up from INR 1,937.28 million in Q4 FY24 and INR 5,223.90 million in Q1 FY24.

• Consolidated profit after tax for Q1 FY25 was INR 993.33 million, compared to a loss of INR 3,032.45 million in Q4 FY24 and a profit of INR 578.01 million in Q1 FY24.

• Consolidated revenue from operations for Q1 FY25 was INR 4,983.55 million, down from INR 12,689.74 million in Q4 FY24 and INR 2,276.34 million in Q1 FY24.

• Earnings per unit (standalone) for Q1 FY25 was 10.13, compared to (3.72) in Q4 FY24 and 1.27 in Q1 FY24.

Outlook and guidance

• Distribution of INR 4.7637 per unit declared for Q1 FY25, with record date set as 17 August 2024.

• Ongoing capital reduction and acquisition activities expected to impact future distributions and asset base.