Indian Bank (IB) reported NII of INR 17.3bn (12% y-o-y & -4% q-o-q) led by loan book growth of (19% y-o-y & 5% q-o-q) to INR 1.7bn. Margins for the quarters stood at 2.97% (12bps y-o-y & -17bps q-o-q). Weak treasury gains led to decline in other income to INR 4.3bn (-40% y-o-y & -3% q-o-q) and PPOP income of INR 11.9bn (-13% y-o-y & -8% q-o-q). Elevated provision of INR 10bn (35% y-o-y & -2% q-o-q) resulted in lower PAT of INR 1.5bn (-67% y-o-y & -28% q-o-q). GNPA / NNPA stood at 7.2% / 4.2% for the quarter respectively. Asset Quality disappoints; PCR declines by 356bps q-o-q to 61%. Asset quality deteriorated on a sequential basis with GNPA / NNPA in absolute terms stood at INR 123.3bn / 70.6bn (4% / 18% q-o-q)...