Corporate digest

Ascendas India Trust

HIGHER current income tax expenses and income hedging losses arising from the appreciation of the Indian rupee against the Singapore dollar eroded results for IT park owner Ascendas India Trust (AIT) in its first quarter.

Distribution per unit (DPU) dipped to 1.31 Singapore cents from 1.36 Singapore cents in the previous year. Q1 income available for distribution shrank 3.4 per cent to S$13.5 million.

For the three months ended June 30, gross revenue jumped 29.5 per cent to S$46.7 million due to incremental income from new acquisitions, developments, and positive r…