Fusion Microfinance (Fusion) continues to deliver industry-leading profitability in Q1FY24- as reflected in it sustaining ~5% RoA and >20% RoE during the past 5 quarters. This is an outcome of its diversified operations with no single state contributing >20% of AUM, rural portfolio accounting for 93%, quality underwriting, proactive risk management and deep understanding of demographics in states where it operates.