Ascendas India Trust Q2 DPU unchanged from a year ago at 1.37 Singapore cents

ASCENDAS India Trust, which owns six tech parks in India, said distribution per unit (DPU) for its second quarter ended Sept 30 was 1.37 Singapore cents, unchanged from a year ago.

Together with first quarter DPU of 1.36 cents, a total of 2.73 cents will be distributed for the half-year, with the business trust going ex-distribution on Nov 14. This was slightly below 2.74 cents a year ago.

For the second quarter, distributable income was up one per cent to S$12.7 million. Net property income was up 6 per cent to S$25.1 million while total property income was up 2 per cent to S$37.1 million.

The Indian rupee depreciated versus the Singapore dollar compared to a year ago, so total property income and net property income increases were lower in Singapore dollar terms.

Higher property income versus a year ago was due to contributions from the aVance 3, CyberVale 3 and Victor buildings, as well as higher rentals upon lease renewals.

The business trust closed unchanged at S$1.075 before results were out.