Pak refuses to host CPU meet, says will not invite J-K speaker

New Delhi, Jan 1: Newly-appointed Chief of the Defence Staff General Bipin Rawat on Wednesday said the armed forces stay away from politics and work as per the directives of the government of the day, remarks that come amid allegations that the forces were being politicised.

Gen Rawat also said that his focus as CDS will be to integrate the efforts of the three services and to work as a team.

"We keep ourselves away from politics. We act according to the directives of the government of the day," he said.

Gen Rawat said his focus will be to ensure best and optimal use of resources allocated to the three services.

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, May 10: India's COVID-19 count crossed 60 thousand on Sunday, with Maharashtra being the worst-affected due to the infection so far, according to the Union Ministry of Health and Family Welfare.

The number of total confirmed cases in the country rose to 62,939, including 19,358 patients who have been cured and discharged or migrated, according to the Ministry.

The total number of active cases in the country, therefore, stands at 41,472.

The number of deaths in the country due to the infection reached 2,109 on Sunday.

While Maharashtra, with 20,228 cases is the worst-affected state, it is followed by Gujarat with 7,796 and the national capital, Delhi, with 6,542 cases. Tamil Nadu, is marginally behind Delhi with 6,535 cases.