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Earnings review
FY13/14
S$'000
FY13/14
ࡩ mil
FY12/13
ࡩ mil
INR YoY
Change
Comparison of FY13/14 to FY12/13
for Indian Rupee earnings
Ordinary proft before tax 59,403 2,845 1,437 98%
Distribution statement
Distribution adjustments
As a Business Trust, a-iTrust computes distribution
to unitholders based on cash fow generated from
operations, rather than accounting proft. To derive
the income available for distribution, adjustments
are made to accounting proft to remove primarily
non-cash accounting entries.
Current income tax expense
Current income tax expense excludes deferred
income tax expense.
(14,438) (691) (516) 34% The increase was mainly due to higher
withholding and dividend distribution taxes.
Trustee-Manager fees payable in units
The Trustee-Manager has elected to receive 50%
of its base fee and performance fee in units and
50% in cash; hence 50% of the fees are added
back to the income available for distribution.
3,268 156 146 7% The increase was in line with higher
portfolio valuation and net property income.
Depreciation
Depreciation is a non-cash accounting entry that
does not affect cash fow.
98 5 5 - Depreciation remained stable at ࡩ5 million.
Amortisation of marketing commission
Amortisation is a non-cash accounting entry that
does not affect cash fow.
31 2 14 (89%) Amortisation of marketing commission
declined to ࡩ2 million.
Realised exchange loss 995 48 948 (95%) The realised exchange loss of ࡩ948 million
in FY12/13 arose from the settlement of
Singapore Dollar-denominated loans. The
sharp appreciation of the Singapore dollar
in the periods between the inception
and settlement of these loans led to
an increase in the loan quanta in Indian
Rupee terms. As a result, exchange loss
was frst recognised, and subsequently
realised when the loans were settled.
However, since there is no impact on cash
fow, the loss is added back to the income
available for distribution.
Non-controlling interests
Income due to non-controlling interests is
deducted from income available for distribution.
(3,226) (154) (138) 12% The increase was due to higher income
available for distribution.
Total distribution adjustments (13,272) (635) 459 N.M. Total distribution adjustments of ࡩ635
million was subtracted from FY13/14
ordinary proft before tax. In FY12/13,
ࡩ 459 million was added to ordinary proft
before tax.
Income available for distribution 46,131 2,210 1,896 17% Income available for distribution increased
by 17% to ࡩ2,210 million.