Law to punish husbands after instant talaq will be a New Year gift for Muslim women: Modi

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.

New Delhi, Feb 27: The US Commission on International Religious Freedom (USCIRF) has said that the Delhi violence in which over 30 people were killed, was specifically targeted against the Muslims.

Expressing "grave concern over the ongoing violence taking place in Delhi", the USCIRF in a statement said that as President Donald Trump's inaugural visit to India winds down, North-East Delhi has been rocked by deadly rioting, with reports of violence and mobs specifically targeting Muslims.

"These incidents are even more concerning in the context of efforts within India to target and potentially disenfranchise Muslims across the country, in clear violation of international human rights standards," USCIRF Commissioner Anurima Bhargava said.

"According to reports, several mosques have also been set alight or vandalized. Many Muslim residents have been forced to flee the area. This unrest comes in the wake of widespread protests against the Citizenship (Amendment) Act following its passage in December 2019.

"The brutal and unchecked violence growing across Delhi cannot continue," Bhargava said adding that the Indian government must take swift action to ensure the safety of all of its citizens.

"Instead, reports are mounting that the Delhi police have not intervened in violent attacks against Muslims, and the government is failing in its duty to protect its citizens."

USCIRF Chair Tony Perkins said the ongoing violence in Delhi and the reported "attacks against Muslims, their homes and shops, and their houses of worship are greatly disturbing".

One of the essential duties of any responsible government, he said, is to provide protection and physical security for its citizens, regardless of faith.

"We urge the Indian government to take serious efforts to protect Muslims and others targeted by mob violence."

In its annual report last year, the USCIRF classified India as a "Tier 2" country for engaging in or tolerating religious freedom violations that meet at least one of the elements of the "systematic, ongoing, egregious standard for designations as a "country of particular concern (CPC)", under the International Religious Freedom Act.

The ongoing violence in North-East Delhi erupted after clashes between pro and anti-CAA protesters on Sunday.

Besides the casualties, over 200 others have been injured in the deadliest violence in the national capital in decades.

New Delhi, Feb 11: Delhi BJP chief Manoj Tiwari on Tuesday said the party will review why it failed to meet its own expectations in the Assembly polls and saw a moral victory in the fact that the party's vote share has increased since 2015.

"Delhi must have given mandate after careful thinking. Our vote percentage has increased from 32 per cent to around 38 per cent. Delhi did not reject us and the increase (in vote share) is a good sign for us," he told reporters.

He said the BJP hopes that there would be less blame game and more work in the national capital and congratulated Arvind Kejriwal on his party's victory in the polls.

After winning the Patparganj seat, AAP senior leader Manish Sisodia accused the BJP of indulging in the politics of hate.

"We indulge in politics of development not politics of hate. We're against the roadblock in Shaheen Bagh as we were earlier," he said.