MMFS 3QFY17 results were below estimates. Led by higher provisions (Rs 4.2bn, 38% QoQ) and muted NII (interest reversals of Rs 650mn), it reported a PBT loss of Rs 241mn. However, RBI?s forbearance enabled MMFS to report 1.5% lower GNPAs (11.1%) and postpone P&L impact of Rs 1.5bn.