Ascendas India Trust's Q2 DPU rise 8%

SINGAPORE - Ascendas India Trust (a-iTrust) reported an 8 per cent year-on-year rise in distribution per unit (DPU) to 1.37 cents for second quarter, said the trust manager on Monday (Oct 26).

Total property income for the three months to Sept 30 grew 10 per cent to 1.7 billion Indian rupees (S$36.5 million), boosted by rental income from newly acquired property and overall improvements in portfolio rental and occupancy.

Property expenses dropped 4 per cent thanks to lower utilities expenses. Higher revenue growth coupled with lower expenses saw second-quarter net property income rise 19 per cent to 1.1 billion rupees (S$23.6 million).

A distribution of 2.74 Singapore cents has been declared for the period from Apr 1 to Sept 30, which will be paid out on Nov 27.

A-iTrust units closed three cents or 3.41 per cent higher at 91 cents at market close.