Top headlines: Govt approves stake sale in HZL; IndiGo Q4 loss widens

Business Standard brings you the top headlines on Wednesday

IndiGo Q4 results: Loss widens to Rs 1,682 cr on higher fuel costs

InterGlobe Aviation, which operates flights under IndiGo brand, on Wednesday reported that its consolidated loss widened to Rs 1,682 crore for the quarter ending March 31, 2022 as higher fuel costs more than offset a rebound in demand for air travel. It reported consolidated loss of Rs 1,147 crore in the year-ago period when a raging pandemic kept people at home.

However, the resurgence in air travel demand helped the company's consolidated revenue from operations jump 29% to Rs 8,021 crore in Q4FY22 as against Rs 6,223 crore in Q4FY21. Read more

Govt approves sale of entire remaining stake in Hindustan Zinc

The Cabinet Committee on Economic Affairs (CCEA) has approved the sale of its remaining 29.5 per cent stake in Hindustan Zinc Ltd (HZL) as the centre looks to accelerate its disinvestment drive with some key privatisation proposals hitting hurdles.

The sale of the entire 29.5 per cent stake in HZL would fetch the centre about Rs 38,560 crore at current share market price. Read more

WEF 2022: Advanced economies to be back on track by 2024, says Gopinath

Advanced economies will be back on track by 2024, but developing economies will be 5 per cent below where they would have been otherwise, IMF's Gita Gopinath said on Wednesday.

Economies worldwide have been adversely impacted by the coronavirus pandemic and are slowly coming back into the recovery path. Read more

SpiceJet says faced ransomware attack, hundreds of flights impacted

Hundreds of SpiceJet airlines passengers were stranded at various airports due to a ransomware attack that impacted the morning flight departures on Wednesday.

Confirming the development, a spokesperson informed that a ransomware attack on Tuesday night had slowed down the departure of flights today morning. Read more