IGB REIT reported its Q3 earnings reporting a total revenue of RM149.7 million an increase of 6.8% against the corresponding quarter in 2022 of RM140.1 million. Net property income was RM111.3 million, an increase of 10.0% compared with the corresponding quarter in 2022 of RM101.2 million.
Profit after taxation was RM250.7 million, an increase of 200.7% compared with the corresponding quarter in 2022 of RM83.4 million. The higher total revenue and net property income were mainly due to the higher rental income in the current quarter. It was also mainly due to higher rental income and the net fair value changes of RM161.8 million in relation to the investment properties in the current quarter.
IGB REIT has confirmed a distributable income for the current quarter amounted to RM95.8 million, consisting of realised profit of RM88.9 million and the non-cash adjustments arising mainly from net fair value changes of RM161.8 million and Manager fee payable in Units of RM6.5 million.
For the current quarter, IGB REIT’s total revenue was RM149.7 million, 5.8% higher compared with the immediate preceding quarter of RM141.5 million. Net property income was RM111.3 million, 8.3% higher compared with RM102.8 million in the immediate preceding quarter. Profit after taxation was RM250.7 million, increased 209.7% compared with the immediate, preceding quarter of RM81.0 million.
