Breaking the seasonality, Five Star has reported strong Q1FY24 operating performance, especially, on growth and asset quality fronts– AUM grew robust 10% QoQ even in a seasonally weak quarter and 30+ DPD fell to a multi-year low of 9.7%. Spread improve 20bps QoQ driven equally by an increase in asset yields (up 1obps QoQ) and a decline in the cost of funds (down 10bps QoQ).