LONDON (Alliance News) - Infrastructure India PLC, an AIM-listed infrastructure fund that invests in Indian assets, Friday said its net asset value increased in its last financial year.
NAV was GBP373.6 million at the end of March, equivalent to GBP0.55 per share, up from GBP212.3 million or GBP0.62 per share at the same stage of the prior year.
"The increase in investment value is driven principally by strengthening of the Indian rupee against sterling at the end of the fiscal year, a decrease in the yield of the Indian 10 year bond, which serves as the risk-free rate in asset valuations, and the effects of an additional six months of project operation or development," the company said.
Shares in the company were down 1.6% at 15.75p on Friday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Infra.india (IIP)