Kashmiri woman Iram Habib gives wings to her aspirations

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.

Bengaluru, Jun 19: The Karnataka government has been advised by its Educational Advisor to cancel holidays observed in educational institutions on the occasion of various Jayantis (birth annivesaries).

Advisor to Karnataka government on Education, Professor MR Doreswamy, has recommended cancellation of holidays on Jayanti and celebrate the day with more meaningful programmes remembering the great personalities.

The state government has declared public holidays on Valmiki Jayanti, Basava Jayanti, Kanaka Jayanti, Mahavir Jayanti, Ambedkar Jayanti and Gandhi Jayanti.

On Thursday, Doreswamy submitted a report containing seven key suggestions including cancelling holidays, to Deputy Chief Minister CN Aswath Narayan, who holds higher education portfolio.

Doreswamy in his report suggested to hold thematic workshops, lectures, conferences and other such activities to celebrate the life and works of the great personalities, instead of declaring holidays.

"It would not only educate our youth about the significance of the great personalities to our culture and society and also reinvents the tradition of paying tributes to their contributions to our civil society,'' he said.

Dr Narayan said that the decision on cancelling holidays on Jayanti's has to be taken by Chief Minister BS Yediyurappa.

Moreover, to bring education back on track during the present COVID-19 pandemic situation, Doreswamy made a few suggestions to complete exams of final semester engineering and graduate students. He also said that it was a challenge for the education sector to overcome the pandemic crisis and structure the next academic year 2021-22.

He also advised implementation of a mentoring system in all higher education institutions in Karnataka and empowering specially-abled students.

Bengaluru, Jun 26: All efforts would be made to control the spread of coronavirus in the city and there will be no fresh lockdown, Karnataka Chief Minister B S Yediyurappa on Friday said, asserting that improving economic situation of the state is also equally important.

Though the state capital was considered a model for the entire country in COVID management and has seen a spike in cases during the last few days, the pandemic can be controlled if everyone cooperated, he said.

His remarks come a day after Revenue Minister R Ashoka said Bengaluru is still 'safe' compared to the COVID-19 situation in other cities and states and had ruled out a fresh lockdown for now, putting to rest speculations that it was planning such a move in view of spike in cases.

As of Thursday evening, a total of 1,791 COVID-19 cases, including 78 deaths and 505 discharges, had been reported in the city while the state's tally stood at 10,560 compared to just 3,408 cases as on June 1. The state capital has the highest number of cases among the districts.

"There is no question of imposing lockdown for any reason. In some areas (with high case load) we have already implemented lockdown, other than those places there is no question of it being implemented in other places," Yediyurappa told reporters here.

Improving the economic situation of the state was also equally important, he said ahead of his meeting with Ministers, MLAs and MPs of all parties from Bengaluru to discuss measures to control COVID-19.

"I will discuss with all MLAs including those from opposition and Ministers from Bengaluru and come to some decision. With their cooperation we will make all honest efforts to control the pandemic in Bengaluru," he added.

Earlier, there had been intense speculation after some ministers said the government may have to consider re-imposing the lockdown, eased in phases from the middle of last month, in view of continuing spike in new cases in the past several days. Bengaluru was a "model" to the entire country in COVID management, but in recent days cases have increased, Yediyurappa said, adding to control it cooperation from everyone was necessary.

"I have confidence that if everyone (MLAs) pays special attention in their respective assembly constituency, COVID can be controlled," he said. Meanwhile, official sources said the Chief Minister has given Revenue Minister Ashoka the charge of overseeing the COVID management in the city.