PAT in line; minor improvement in Stage 3 SCUF posted a PAT of INR2.82b (up 10% YoY and 36% QoQ, in line) in 2QFY22. PPOP was largely in line at INR5.8b (up 3% YoY and 2% QoQ). NII/credit costs stood in line ~INR9b/~INR2b. 2QFY22 was characterized by a sequentially strong growth of ~40% in disbursements and ~5bp QoQ improvement in GS3. Access to liquidity has considerably improved for SCUF and it has now reverted back to its pre-ILFS quarterly disbursement run-rate of INR65-70b....