IN BRIEF: Infrastructure India Interim Earnings Hurt By Lockdown
Fri, 18th Dec 2020 17:59
Infrastructure India PLC - investor in infrastructure assets in India's energy and transport sectors - For half year ended September 30, posts net asset value decreased to GBP104.3 million as at September 30 from GBP149.1 million last year. NAV per share at September 30, was 15.3 pence, down from 21.9p at same time last year. Says decrease in NAV was a result of the devaluation of Indian rupee against pound and Covid-19 related revisions to business assumptions underpinning the asset valuation of Distribution Logistics Infrastructure Ltd - IIP's largest asset. All construction activities at Indian terminals ceased due to national lockdown and while freight movement was classed as essential, movement of cargo was limited due to closures across the supply chain, it adds.