a-iTrust Q3 DPU falls in S$ terms

ASCENDAS India Trust (a-iTrust) yesterday reported a 4 per cent rise in its distribution per unit (DPU), to 55 Indian paise, for the third quarter ended Dec 31, 2013, compared to a year ago.

In Singapore dollar terms though, the DPU declined 9 per cent to 1.1 Singapore cents over the same period due to the 12 per cent appreciation of the SGD against the rupee.

a-iTrust's third-quarter total property income and net property income rose 3 per cent and 11 per cent, to 1.4 billion rupees (S$29 million) and 911 million rupees, respectively, compared to Q3 the previous year. The improvement in net property income was due to higher revenue and a reduction in other operating expenses, on the back of reversal in provisions for rental arrears.