NII for Q4FY25 grew 22.4% YoY (+4.5% QoQ) to INR 98,072 Mn., which was below our estimates by 3.4%. PPOP stood at INR 79,675 Mn., up 24.3% YoY (+2.1% QoQ), which was below our estimates by 6.0%, led by weaker NII growth and higher other opex. PAT stood at INR 45,456 Mn., up 18.9% YoY (+5.5% QoQ), below our estimates led by higher provisions.