On back of increased revenue, strengthened IDR.
Religare Health Trust (RHT) reported that its distributable income for Q3 stood at $15.26m, reflecting a 5.7% climb from 3Q15’s $14.43m. In QoQ terms, RHT’s distributable income saw a 2.5% QoQ dip from Q2’s $15.61m.
According to the company’s announcement, the YoY climb is thanks to rising revenue and the strengthened IDR.
RHT’s revenue jumped 6.3% due mostly to the 3% annual growth in its base fee, which contributes about 63% of total revenue. This was coupled with growth in variable fee as revenue from the operator rose and increased occupancy at RHT’s two operating hospitals.
Meanwhile, IDR has shown growth against SGD for three quarters of FY16, leading to reduced expenses in forward contracts for IDR.
Looking forward, RHT asserted that it will continue its expansion plans despite the uncertain global growth. It also expects a rise in demand for medical services as the number of hospital beds in India far remains low compared to the growing population.
The company also expects to roll out 571 more beds—in addition to its current base of 2,644 beds—to its portfolio by end-2017.
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