The results are very saddening. 400Cr loss… NPA from 0.6 to 2.1%. And the management says this marks a positive turning point… In essence, they are low balling the measuring point to say they did better at a later stage. This is pretty much anti investor move. they gave no warnings about such provisioning during their showcase in investor meets or any interviews.
I cant trust this management anymore. Moved out with good loss, but its okay. I guess the quitting of top managment (CTO) also shows signs of some governance issues.
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