Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.
Find out more at btsub.sg/promo
Religare Health Trust (RHT) has posted a net profit of S$10.43 million in its fourth-quarter for fiscal year 2015, down 7 per cent from S$11.22 million in the corresponding quarter last year. But total distributable income jumped 31.9 per cent to S$15.06 million in Q4, lifted by a surge in net service fee and hospital income.
Net service fee and hospital income (excluding straight-lining, depreciation and amortisation) rose 42.2 per cent due to an increase in total revenue and tight cost controls implemented by management, on top of the contribution from the Mohali and Gurgaon Clinical Establishments.
Correspondingly, total revenue for the quarter came in 31.3 per cent higher at S$35.7 million.
Distributable income per unit, after expiry of sponsor waiver, was 1.895 Singapore cents for the quarter, up from 1.443 cents a year ago.
For the full year, distributable income grew 24.6 per cent year-on-year to S$58.17 million.
Trust CEO Gurpreet Dhillon said whilst growth in distributable income could have matched that of the increase in net service fee and hospital income, it was slightly moderated by the movement in the SGD/INR exchange rate.
The average foreign exchange rate entered into for year-to-date FY2015 was SGD/INR 52.28 compared to SGD/INR of 47.28 for year-to-date FY2014.
"Such exchange rate movements have stabilised significantly in the past year with improved investor sentiments regarding the Indian macroeconomic environment. Notwithstanding that, the management of RHT intends to continue with its policy of hedging the distributable income on a one year forward basis," said Mr Dhillon.
The trust said it is taking steps to capitalise on the growth in the healthcare industry through the addition of more operating beds in its current clinical establishments. There were a total of 103 beds added in FY2015 organically and 298 operating beds added inorganically via acquisition.
RHT is also in the midst of developing one greenfield project which would add 79 beds to the RHT portfolio upon completion.
It added that there are also a number of other expansion projects taking place at RHT's current clinical establishments.
Once completed, these projects would add about 492 beds to RHT's portfolio between the financial years of 2016 and 2017.