Many one-offs dent operating profit, Retain BUY Net profit came in at 4.2 bn, up by 56.6% yoy. This quarter numbers were marked by slower growth, higher NPLs (led by one large corporate account), elevated opex cost and a miss on margins too. Slippages were at 5.4 bn (vs. 4.2 bn qoq) which were largely led by one large corporate account amounting to 1.8 bn. Bank highlighted its exposure to few large vulnerable accounts (incl. 2 HFCs and IL&FS;) amounts to 4.75 bn which are still standard in the books and provisions on these are at 0.7 bn. Margins qoq slipped by ~14 bps to 3% led by linking of advances & deposits to external benchmark repo rates. Mgmt expects exit margin of 3.13.15% in FY20. On the opex side, due to fall in the yields and upward revision in wage hike...