CREDAG’s 3QFY26 PAT stood at INR2.5b (in line). NII grew 13% YoY to ~INR9.8b (in line). Opex grew ~24% YoY to INR3.5b (in line). Cost-to-income ratio rose ~150bp QoQ to ~34% (PQ: ~32.5% and PY: ~31%).