Current news on stocks, including JFSL, IndiGo, and ICRA

On May 23, 2024, IndiGo announced its Q4 Results for 2023–2024. The airline said that, in comparison to the same time last year, when it made Rs 919.2 crore, its profit after tax increased to Rs 1,894.8 crore. Profit after tax for the whole fiscal year was Rs 8,172.5 crore, compared to a loss of Rs 305.8 crore in 2022–2023. The airline declared its intention to provide a “tailor-made business product” as well. IndiGo’s parent company, InterGlobe Aviation, is expected to provide the information in August.

ICRA

The professional investment information and credit rating agency revealed in its Q4 2023–24 Results that net profit increased by 22% to Rs 47.06 crore, while consolidated income from operations increased by 13.7% to Rs 124 crore from Rs 109.1 crore the previous year. In 2023–24, the consolidated income from operations was Rs 446.1 crore, with an 11% rise in profit after tax to Rs 152.24 crore. The board suggested paying an equity share dividend of Rs 100 per share for the whole fiscal year.

Lakshmi JK Cement

For the fourth quarter of 2024, JK Lakshmi Cement reported a 41.13 percent rise in consolidated net profit to Rs 162.06 crore. At Rs 1,780.85 crore, the operating revenue decreased by 4.36 percent. The cemnet company’s sales volume fell 4.27 percent to 25.51 lakh tons in the most recent quarter.

Vinita Singhania, the chairperson and managing director, commented on the outcomes, saying, “More volume, a better product and sales mix, and a decrease in fuel costs contributed to the company’s improved profitability.” JKCL’s net profit for the fiscal year that concluded on March 31, 2024, increased by 32.17% to Rs 487.87 crore. A year ago, it was valued at Rs 369.11 crore. Its operational income in FY24 increased by 5.22 percent to Rs 6,788.47 crore.

Financial Services provided by Jio

The shareholders of Jio Financial Services have been encouraged to approve an increase in the company’s foreign direct investment limit to 49%. The Reserve Bank of India (RBI) has recognized JFSL, a division of Reliance Industries Ltd (RIL), as a systemically significant non-deposit-taking Non Banking Financial Company (NBFC).

Fortis Health Care

In its Q4 Results for 2023–2024, Fortis Healthcare Ltd. revealed a consolidated net profit growth of 46.88 percent to Rs. 203.14 crore. Consolidated income from operations was recorded at Rs. 1,785.88 crore, up from Rs. 1,642.7 crore in the same time last year.