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Ascendas India Trust reports DPU of 7.33 cents for FY18/19, up 20%

PC Lee
PC Lee4/25/2019 06:49 PM GMT+08  • 2 min read
Ascendas India Trust reports DPU of 7.33 cents for FY18/19, up 20%
SINGAPORE (Apr 25): The trustee‐manager of Ascendas India Trust (a‐iTrust) has reported a DPU of 1.70 cents for the 4Q18/19 ended March. This brings FY18/19 DPU to 7.33 cents, 20% higher than a year ago despite the depreciating Indian Rupee.
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SINGAPORE (Apr 25): The trustee‐manager of Ascendas India Trust (a‐iTrust) has reported a DPU of 1.70 cents for the 4Q18/19 ended March. This brings FY18/19 DPU to 7.33 cents, 20% higher than a year ago despite the depreciating Indian Rupee.

Total property income for 4Q18/19 was down 4% to $47.2 million, net property income rose 5% to $35.3 million while income available for distribution rose 9% to $19.6 million. Income to be distributed rose 3% to 1.70 cents.

The full-year DPU growth was mainly due to higher interest income from investments in Aurum IT SEZ, aVance 5 & 6 and aVance A1 & A2. Higher net property income and a one‐off tax benefit from the merger of the legal entities of The V and BlueRidge 2 also contributed to DPU growth.

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