Religare Health Trust reports higher distribution per unit

SINGAPORE - Religare Health Trust (RHT) reported a total revenue of $34.8 million for the three months ended March 31, a 48 per cent increase from a year ago.

This pushed distributable income up by 32 per cent year-on-year to $15.1 million, and the quarter's distribution per unit (DPU) was up 31.3 per cent to 1.895 cent in the fourth quarter.

For the full year, total revenue was up 40 per cent to $130.6 million, while DPU grew 24 per cent to 7.32 cents.

The full year earnings were lifted by stronger contributions from the Gurgaon Clinical Establishment, the newly acquired Mohali Clinical Establishment and the annual 3 per cent growth in base fee for all clinical establishments, the trust said.

Its full year DPU of 7.32 cents works out to a distribution yield of 7.1 per cent.

RHT has a portfolio of healthcare assets in India, where it operates 12 clinical establishments and two hospitals, among other facilities.

The past financial year benefited from a healthy growth in the Indian healthcare industry as reflected by the fee growth, RHT said.

"Management is taking steps to capitalise on the growth in the industry through the addition of more operating beds in its current clinical establishments… RHT is also in the midst of developing one greenfield project which would add 79 beds to the portfolio upon completion."