In Q3FY25, Net Interest Income (NII) decreased by 1.3% YoY (-2.2% QoQ) to INR 52,281 Mn. The NII was lower by 3.6%. Pre-Provision Operating Profits (PPOP) declined by 10.9% YoY (flat QoQ) in Q3FY25 to INR 36,007 Mn. The PPOP was a 2.6% miss compared to our estimates. The net profit for Q3FY25 stood at INR 14,023 Mn, a decline of 39.1% YoY (+5.3% QoQ).