Ascendas India Trust posts rise in Q2 DPU to 2.28 S cents

ASCENDAS India Trust on Thursday posted a distribution per unit (DPU) of 2.28 Singapore cents for its second quarter ended Sept 30, up from the 1.98 cents paid out a year ago.

This came on the back of higher total property income (in Singapore dollar terms) which rose 11 per cent year-on-year to S$49.6 million, while net property income rose 18 per cent to S$39 million.

This was thanks to incremental rental income from Anchor building, completed in May, higher occupancy in aVance in Pune, as well as positive rental reversions and the reduction in minimum alternative tax, its manager said.

Income available for distribution rose 16 per cent to S$23.8 million.

The books closure date is Nov 5, while the payment date is Nov 22.