Ascendas India Trust reports drop in quarterly payout on rupee weakness
Ascendas India Trust (a-iTrust), which owns business space in India, has reported an 8 per cent drop in income available for distribution to $11.2 million for the third quarter.
Distribution per unit fell by 9 per cent to 1.1 cents for the three months to Dec 31.
Total property income also dropped by 9 per cent to $29 million while net property income eased by 1 per cent to $18.4 million.
These falls were mainly due to the sharp depreciation of the Indian rupee against the Singapore dollar.