Good morning!
Here are the top stories to start your day.
⭐ Colgate-Palmolive Q3 profit falls
In the December quarter, the household and consumer products company’s net profit dropped 3.5% YoY to ₹243 crore. The net sales growth was also flat (0.8%) at ₹1,281 crore. The management said that oral care consumption continued to be weighed down, impacted by adverse macro factors.
⭐ HDFC AMC profit rises
In Q3FY23, India’s largest asset management company’s net profit rose 3% YoY to ₹369 crore.This was supported by a 20% rise in the other income to ₹103 crore. Its quarterly average AUM (assets under management) grew to ₹40.3 lakh crore in the December quarter from 38.2 lakh crore in Q3FY22.
⭐ PNB shares jump on strong Q3
Shares of the housing finance company rose after it reported 43% YoY rise in its net profit to ₹269 crore. The asset quality also improved with the gross non-performing assets or bad loans dropping to 4.8% of the loan book from 8.1% in the same quarter last year.
Global markets (at 9:15 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.65% |
| Nikkei 225 (Japan) | ▲ 0.41% |
| Hang Seng (Hong Kong) | ▲ 1.79% |
| SSE Composite (China) | ▲ 0.75% |
| Dow Jones (US) (January 24) | ▲ 0.31% |
| NYSE (US) (January 24) | ▼ 0.02% |
| Nasdaq (US) (January 24) | ▼ 0.27% |
| S&P 500 (US) (January 24) | ▼ 0.07% |
Fact of the day
Launched in 2005, the popular video platform YouTube was initially a dating app.