Digital Fibre Infrastructure Trust has informed the Exchange regarding Annual report for FY ended 2024-25
Awaiting price reaction for this filing.
Digital Fibre Infrastructure Trust (DFIT), a Reliance-sponsored InvIT, has filed its 5th Annual Report for FY 2024-25. DFIT holds 51% in Jio Digital Fibre Private Limited (JDFPL), which operates a 30.1 million fibre pair km (FPKM) pan-India network. Consolidated revenue from operations rose 10.9% to ₹18,553 crore, driven by increased fibre off-take by Reliance Jio (~70%). However, the Trust reported a consolidated net loss of ₹337 crore, though narrowed sharply from ₹886 crore loss in FY24. The amount attributable to unitholders was a profit of ₹752 crore (vs ₹584 crore in FY24). Fair value NAV per unit improved to ₹111.82 (from ₹100.59), with the valuer estimating JDFPL's enterprise value at ₹2,20,048 crore. Credit ratings were reaffirmed at CARE AAA/Stable for both Trust and JDFPL facilities. No unitholder complaints were received during the year.
Operational performance is strengthening with revenue growth and a sharply narrowing loss, which is positive. However, the consolidated entity remains loss-making at the net level. The improved fair-value NAV (₹111.82) and reaffirmed AAA ratings support stability, but investors should note the Trust's heavy related-party exposure through ₹52,620 crore in loans to JDFPL and dependence on Reliance Jio for fibre offtake.