Revenue grew by 4.5% YoY and declined by 13.0% QoQ to INR 4,147mn in Q3FY23. The drop in revenue was mainly attributable to a shift in the transaction mix towards non-credit transactions, compared to credit transactions during the quarter. However, this resulted in an increase in NTR by 340 bps YoY/100 bps QoQ to 8.9 bps.