Religare Health Trust posts lower net profit but higher DPU for Q3

Singapore

RELIGARE Health Trust (RHT) has posted a 3 per cent drop in net profit for the three months ended Dec 31, 2015, to S$11.2 million, but total distributable income rose 5.7 per cent to S$15.3 million.

This translates to a distribution per unit (DPU) of 1.91 Singapore cents, up 4.9 per cent year-on-year.

RHT Trustee Manager on Wednesday said the higher distributable income in the third quarter of FY2016 was boosted by lower hedging costs and improved forward contract rates.

"As RHT Trustee Manager enters into forward contracts for the distributions to unitholders, any reduction in hedging costs would help to reduce the expenses of RHT. The Indian rupee has shown growth against the Singapore dollar for the three quarters of FY2016, which led to a lowering in the costs of entering into forward contracts for the Indian rupee,"…