SINGAPORE (July 22): Ascendas India Trust saw 1Q earnings rise 14% to $9.4 million distributable income stayed flat at 1.36 cents per unit.

Total property income rose 6% to $36.1 million as base rent increased by 7% to $22.7 million while operations, maintenance and utilities income stayed flat at $10.8 million.

The India-based operator of business property also realised $590,000 of exchange gains in the three months ended June 2016, compared to a realised $10.4 million exchange loss a year earlier as the Singapore dollar appreciated by 5% against the Indian rupee over that time. Unrealised exchange losses were $2.9 million in the reporting quarter, however, compared to a $3.1 million gain in the year-ago period.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook