The company posted a loss of Rs 471 crore in the September 2024 quarter, a sharp reversal from a profit of Rs 860 crore a year earlier, driven by a 32-fold increase in provisions to Rs 910 crore from Rs 28 crore. Provisions for the STPL portfolio amounted to Rs 666 crore. The company recalibrated its credit parameters, raising the provision coverage ratio to 84.47% from 52.53% in June 2024.
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