'FIR against journalist for report on Modi’s adopted village an act of intimidation'

Bengaluru, May 14: ABB India has posted a profit after tax of Rs 66 crore during the first quarter (January to March) due to lower volumes including service revenue and unfavourable mix.

In Q1 CY19, it had reported a profit after tax of Rs 89 crore. ABB India follows calendar year as its fiscal year.

The company reported a profit including exceptional items and before tax of Rs 87 crore. The resultant under-absorption and mark-to-market impact due to forex volatility were partly offset by refund incomes and a one-time gain on sale of solar business during the quarter.

Revenues for the first quarter stood at Rs 1,522 crore, impacted by lower sales, non-receipt of delivery clearance, lower service revenue in the nationwide lockdown due to the COVID-19 pandemic. This impact primarily occurred in March, the company said in a statement.

ABB India said it continues to maintain a stable cash position of Rs 1,464 crore as on March 31 in a market where cash collection continues to be a challenge.

Besides, despite many activities coming to a standstill in March, the quarter was marked by commissioning for a mining major at Raigarh in Chhattisgarh, electrical and automation systems for a cement major and port and electrics, drives and automation for a leading mill in Bangladesh.

Terminal installation and commissioning for LPG, power management electrical control system for a leading refinery and commissioning of two units of a power plant in Kerala are some of the other projects where ABB's involvement ensured continuity and safe operations, it said.

On a global scale, the impact of COVID-19, as well as the fall in oil prices, has significantly impacted the short-term outlook. The global economy is expected to contract in 2020 after a rapid deterioration in outlook driven by the pandemic.

Despite unprecedented stimuli by governments and central banks around the world and initial signs of recovering economic activity in China, macro-indicators point to a global recession of uncertain duration as many countries continue to face restrictions with anticipated long-term economic consequences, said ABB India.

While the company is taking prompt action to adapt its operations and cost base to safeguard profitability, it expects the results in the coming quarter to be impacted due to the loss of volumes.

Mumbai, Jul 1: Mumbai police on Wednesday imposed section 144 of CrPC prohibiting the movement of people in public places and gatherings, to prevent the spread of Covid-19, an official said.

The prohibitory order, issued by a senior police official, says restrictions on the movement of residents for non- essential work will remain in force till July 15.

The order prohibits "presence or movement of one or more persons in public places or gathering of any sort", the official said.

Bhopal, Jun 20: A senior BJP MLA in Madhya Pradesh tested COVID-19 positive hours after he cast his vote for the Rajya Sabha polls in the state and attended party meetings, an official said on Saturday. The legislator's wife has also tested positive for the infection, he said.

Voting for three Rajya Sabha seats in the state took place on Friday.

The couple's test reports came on Friday night and the news of the MLA's infection triggered panic among other MLAs with some of them reaching hospitals to get themselves tested.

"The MLA and his wife were found infected with COVID- 19 in the tests conducted by a private laboratory. We are examining their condition and making a decision whether they need to be hospitalised or home quarantined," a health department official told.

He said that the MLA's contact tracing has been initiated.

"Further tests are also being conducted," he said.

He is the second legislator in Madhya Pradesh, who was tested coronavirus positive.

Earlier, a Congress MLA was found infected. He had voted for the Rajya Sabha polls on Friday after reaching the state assembly complex wearing a PPE suit.

Talking to , a member of the BJP MLA's family said that the medical team was called on Friday afternoon for the COVID-19 test after the legislator's wife complained of uneasiness.

"The MLA and his wife gave the samples to the medical team for the COVID-19 tests on Friday afternoon and they were told at night that both of them have tested positive for the infection," he said.

After the news of BJP MLA testing positive spread, a senior BJP MLA from Mandsaur, Yashpal Singh Sisodiya, reached government-run J P Hospital here along with two other party MLAs.

Talking to reporters, Sisodiya said, "I came here along with two other MLAs from our division- Dilip Makwana (Ratlam Rural) and Devilal Dhakad (Garoth)- after we came to know through media and social media that one of the MLAs from our division has tested positive for COVID-19."

"We don't have any symptoms, but came to test for COVID-19 as a precautionary measure," he said.

Dhakad said that he came for testing as he had dined with the MLA two days back.

Talking to , Madhya Pradesh State Assembly's Principal Secretary A P Singh said that all the precautionary measures were taken during the Rajya Sabha polling.

"All employees were in safety gears during the Rajya Sabha election process. The assembly campus was being sanitised every 15-20 minutes during the polling process...We are now going through the CCTV footage to trace those who had come in his contact," he said.

Congress MLA and former minister P C Sharma said that those who came in contact with the BJP legislator should be traced and quarantined.

"The employees and MLAs who came in contact with him during the voting process should be tested," Sharma said.