Asset quality held stable, with NNPL declining by 3.6% QoQ, even as GNPL increased by 3% QoQ. PCR improved by 300bp QoQ to 56.5%, led by significantly higher-than-expected provisioning. GNPL/NNPL ratios, thus, improved 9bp/11bp QoQ to 2.22%/0.98%. SMA-2 advances stood at 4bp of loans at INR720m lowest-ever level since KMB started reporting the same. Loans grew 24.7% YoY (+6.7% QoQ); deposits rose 22.4% YoY (+6.5% QoQ). Share of core deposits (CASA+ TD less than INR50m) was 77% v/s 75% QoQ. Subs performance robust: a) KMPL reported PAT of INR1.6b (+20% YoY),...