Good morning!
Here are the top stories to start your day.
⭐ AU Bank posts strong Q3 numbers
In the December quarter, the lender reported its highest ever quarterly net profit of ₹393 crore, up 30% year-on-year. The net interest income also rose 41% YoY to ₹1,153 crore. The asset quality also improved with the gross non-performing assets falling to 1.8% of the loan book from 2.6% in Q2FY22.
⭐ Happiest Minds’ Q3 profit rises
The IT company’s net profit grew 17.7% YoY to ₹57 crore. This was backed by a robust growth in revenue of 29% to ₹366 crore. The management highlighted that its clients are investing heavily in cloud, experience and analytics as a part of strategic digital initiatives.
⭐ PVR reports profitable Q3
The multiplex chain posted a net profit of ₹25.2 crore in the December quarter compared to a loss of ₹21.9 crore in the same quarter last year. The revenue also rose by 48% to ₹953 crore. The management said that PVR witnessed a sharp revival on the back of strong content performance. Also, it added 20 new screens across 3 properties in Q3FY23.
Global markets (at 9:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.03% |
| Nikkei 225 (Japan) | ▲ 0.29% |
| Hang Seng (Hong Kong) | ▲ 0.99% |
| SSE Composite (China) | ▲ 0.54% |
| Dow Jones (US) (January 19) | ▼ 0.76% |
| NYSE (US) (January 19) | ▼ 0.55% |
| Nasdaq (US) (January 19) | ▼ 0.96% |
| S&P 500 (US) (January 19) | ▼ 0.76% |
Fact of the day
Man City was the world's highest revenue-generating ($790.6 million) club in the 2021-22 season
Source: ESPN