Devang Gheewalla
CFO
Notable Quotes
We will continue to focus on the fixed cost reduction as well going forward, which we have been doing for last one year. That obviously will continue to result in cost to asset going down and improving the ROA.
The unsecured credit cost is behind us now, and that's what is effectively resulting in the reduction what we saw during the quarter.
We expect credit costs to gradually moderate over the next two quarters.
The MFI stress started building and reflecting in the books from the Q3 of last year... clearly, the gross NPA, which sort of flowed during Q3, Q4, given the provisioning norms of 75%, 25%, I think all accumulated towards the Q1 hit.
Our secured book, touch wood, is behaving very, very well. We don't anticipate any issues there.