Infrastructure India PLC - Investor in infrastructure assets in India's energy and transport sectors - Says value of investments as at September 30 up 3.4% to GBP263.1 million from GBP254.4 million a year before. Says net asset value in the half-year period to September 30 total GBP72.1 million, a sharp 31% decline from GBP104.3 million. Net asset value per share is 10p, down 35% from 15.3p a year prior. Pretax loss in the period widens to GBP21.2 million from GBP12.8 million.
Blames the decreases on the difficulties the pandemic caused for operational activities at its largest asset Distribution Logistics Infrastructure Ltd. These included acute shortages of labour as well as shortages of containers and equipment, leading to the use of capital funds for the operational and financial support for DLI. This resulted in liquidity constraints for the company.
Has entered advanced discussions with a third party to sell Indian Energy Ltd to realise funds in the short term. Also has commenced exploratory discussions in regard to the partial or complete sale of Distribution Logistics Infrastructure.
Current stock price: 0.71 pence
Year-to-date change: down 60%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Infra.india (IIP)