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Results: Embassy REIT income rises 12% to Rs 2,032 crore in FY21

Results: Embassy REIT income rises 12% to Rs 2,032 crore in FY21
Embassy Office Parks REIT on Thursday reported 12 per cent growth in net operating income to Rs 2,032 crore and distribution of Rs 1,836 crore to unitholders during the last financial year despite the COVID-19 pandemic.
Embassy REIT expects office demand to be muted over the next 2-3 quarters but sees strong recovery thereafter on pent-up demand.
The Board of Directors of Embassy Office Parks Management Services Pvt Ltd, Manager of Embassy REIT, declared a distribution of Rs 530.8 crore or Rs 5.6 per unit for the quarter ended March.
The cumulative distribution for FY2021 totals Rs 1,836.4 crore or Rs 21.48 per unit, which is on target with the guidance issued earlier by the management, the company said in a statement. ....

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U.S. drugmaker Merck sees bigger hit to full-year sales from pandemic

3 Min Read
(Reuters) -Merck & Co Inc said on Thursday it would take a bigger hit to sales this year than previously expected due to a resurgence in COVID-19 cases that has hurt demand for drugs that need to be given by doctors.
FILE PHOTO: The Merck logo is seen at a gate to the Merck & Co campus in Rahway, New Jersey, U.S., July 12, 2018. REUTERS/Brendan McDermid
The pandemic is expected to shave 3% from overall sales, more than the previously projected 2%, after it resulted in a $600 million hit to Merck’s first-quarter sales.
Merck shares fell 3.1% to $74.73 after the company also missed first-quarter earnings estimates. ....

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Norway's Johan Sverdrup oilfield to ramp-up capacity in May-partner

By Reuters Staff
1 Min Read
OSLO, April 29 (Reuters) - Western Europe’s largest oilfield, Johan Sverdrup, will ramp up its production in early May, sooner than previously expected, Swedish independent oil firm Lundin Energy said on Thursday.
“Phase 1 production capacity is about to step-up to 535,000 barrels of oil equivalent per day (boepd) gross, and I expect, when the impact on the full field capacity has been assessed, we will see an increase above the current guidance of 720,000 boepd,” Chief Executive Nick Walker said in a statement. (Reporting by Nerijus Adomaitis, editing by Terje Solsvik) ....

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Royal Caribbean hopeful U.S. cruises will resume in summer

Royal Caribbean Group said on Thursday it was aiming to restart its U.S. cruises in July after the U.S. Centers for Disease Control and Prevention (CDC) issued new measures to speed up approvals, sending its shares up 2.5%. ....

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Bajaj Auto posts flat profit at Rs 1,332 crore for March quarter

Bajaj Auto posts flat profit at Rs 1,332 crore for March quarter
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