HDFC Bank posted mixed Q1FY2020 results with reasonably strong operating parameters, but softening of NIM and higher provisions moderated the performance. Net interest income (NII) grew by 22.9% y-o-y and operating profit grew by 28.9% y-o-y. However, provisions increased by 60.4% y-o-y and 38.3% q-o-q, as management chose to be conservative and made higher contingent (for agri/unsecured book) provisions. Notably, core cost-to-income ratio (Calc. C/I) for HDFC Bank further improved to 39% (contracted by 193 BPS y-o-y),...