Religare Health Trust (RHT) posted a 3% decline in earnings for the three months ended Dec 31, 2015 to $11.2 million.
Distributable income in 3Q rose 5.7% to $15.3 million. The firm attributed this to improved forward Indian rupee/Sing dollar as a result of lower hedging costs and better spot rate, as well as higher net service fee and hospital income, which were partially offset by higher finance costs.
Revenue rose 5% to $35.9 million, boosted by a higher operating revenue from Fortis and higher hospital income from the two operating hospitals.
Religare recorded a foreign currency translation loss of $13 million in 3Q. This stemmed from the depreciation of the Indian rupee against the Sing dollar on the rupee-denominated interest receivables and realised loss from the settlement of forward contracts.
The counter closed 1.6% lower at 92.5 cents on Wednesday.
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Distributable income in 3Q rose 5.7% to $15.3 million. The firm attributed this to improved forward Indian rupee/Sing dollar as a result of lower hedging costs and better spot rate, as well as higher net service fee and hospital income, which were partially offset by higher finance costs.
Revenue rose 5% to $35.9 million, boosted by a higher operating revenue from Fortis and higher hospital income from the two operating hospitals.
Religare recorded a foreign currency translation loss of $13 million in 3Q. This stemmed from the depreciation of the Indian rupee against the Sing dollar on the rupee-denominated interest receivables and realised loss from the settlement of forward contracts.
The counter closed 1.6% lower at 92.5 cents on Wednesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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