Top News: IndiGo net profit doubles; Dombivli boiler blast; Cyclone Remal warning for Bengal; more

Top News of the Day: InterGlobe Aviation Ltd more than doubled its net profit in the quarter ended March. In another news, a boiler exploded at a chemical factory in the MIDC area in Dombivli near Mumbai on Thursday, killing at least seven people.

Livemint
Updated23 May 2024
Indigo's total income rose 26.7% during January-March to  <span class='webrupee'>₹</span>18,505.1 crore.
Indigo’s total income rose 26.7% during January-March to ₹18,505.1 crore.(REUTERS)

Top News of the Day: InterGlobe Aviation Ltd, which runs India’s largest airline IndiGo, more than doubled its net profit to 1,894.8 crore in the quarter ended March. In another news, severe heatwave conditions continued to grip parts of North India, while some states in the southern regions grappled with heavy rainfall. A cyclone alert has also been issued. Besides, a boiler blast in Dombivli near Mumbai killed seven people.

Here are Top 8 news of the Day to must not miss:

1. IndiGo's net profit doubles to 1,895 crore in Q4

InterGlobe Aviation Ltd, which runs IndiGo airlines, more than doubled its net profit to 1,894.8 crore in the quarter ended March. The airline's total income rose 26.7% during January-March to 18,505.1 crore.

Besides, Reuters cited India's IndiGo airline operator Interglobe Aviation as saying on Thursday that it will introduce business class on some domestic flights this year, in a departure from its single-class cabin, at a time when urban Indians are increasingly lapping up premium offerings.

Read full story here

2. Wipro’s former CEO Delaporte was Indian IT’s highest-paid boss in FY24

Wipro Ltd’s former chief executive officer (CEO) Thierry Delaporte became Indian IT sector's highest-paid top boss for the financial year ended March 2024, earning $20.1 million ( 167 crore) during the period, the company’s filings with the US Securities and Exchange Commission showed.

Read full story here

3. Heatwaves, heavy rainfall and cyclone warning

The India Meteorological Department forecast revealed that a "Cyclonic Storm" is likely to approach Bangladesh and West Bengal coast by the evening of May 26. When the prevailing system intensifies into the 'cyclonic storm', it will be identified as cyclone Remal, proposed by Oman.

"An upper air cyclonic circulation in lower tropospheric levels developed over the southwest Bay of Bengal in the early morning (0530 hours IST) of 21st May 2024. 4. Under its influence, a low pressure area formed over the southwest and adjoining west-central Bay of Bengal..." the IMD said.

The weather informed me that this low-pressure area is likely to continue to move northeastwards and concentrate into a Depression...it will further into a cyclonic storm...Subsequently, it would move nearly northwards and reach Bangladesh and adjoining West Bengal coasts by the 26th of May evening as a severe cyclonic storm.

Meanwhile, seven people reportedly died in Kerala after heavy to extremely heavy rainfall lashed parts of the state this week. Besides, temperatures continue to soar in parts of North India on Thursday.

4. China-Taiwan stand off

China's People's Liberation Army (PLA) launched "punishment" military drills around Taiwan early Thursday. The Eastern Theater Command of the Chinese PLA launched a two-day joint military drill – on Thursday and Friday. It's code-named the Joint Sword-2024A exercise.

Taiwan responded by deploying air, ground and sea forces, with the island's defence ministry vowing to "defend freedom". According to Nexta news, the Taiwanese army transported Hsiung Feng III (HF-3) supersonic anti-ship missiles to the coast in response to China's drills.

Read full story here

5. RBI dividend boost to help in improving budget math

A portion of the unprecedented dividend payout from the Reserve Bank of India (RBI) will be utilized to improve the fiscal deficit target for FY25 from 5.14% of gross domestic product (GDP) to around 4.9-5%, a person aware of the matter said.

Though a decision on the deployment of the additional payout is yet to be taken, a part of it is likely to be utilized to reduce the fiscal deficit, the person said requesting anonymity.

Read full story here

6. Another bomb scare in Delhi

Two Delhi University (DU) colleges received threat calls on Thursday, May 23. The Delhi Fire Service (DFS) informed that bomb threat calls were received at Lady Shri Ram (LSR) College and Sri Venkateswara College in the capital city, sending alarm bells ringing in both the colleges. Fire tenders and Delhi Police officials have been rushed to the spot, the DFS said.

Read full story here

7. Zee-Sony calling off merger

Zee Entertainment Enterprises Ltd has asked Sony Group Corp’s India unit to pay a termination fee of $90 million for calling off a merger deal that would have created a $10-billion media behemoth in the country.

Read full story here

8. Dombivli boiler blast

At least seven people were killed and 48 injured when a boiler exploded at a chemical factory in the MIDC area in Dombivli near Mumbai on Thursday. A massive fire broke out after the blast at the factory, located in the Thane district of Maharashtra.

Read full story here

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