Repco Home Finance (Repco) reported 3QFY18 earnings of INR 485mn, up 5% YoY. Loan growth moderated to 9.6% on account of i) Sand Mining ban in TN after Madras High Court's order in Nov'17; ii) sluggish LAP growth (flat YoY) with company focusing on lower ticket LAP iii) higher repayments due to increase in competition and iv) slower growth outside TN in Kerala, Karnataka and AP due to state specific issues. Recently, Supreme Court has issued an interim stay on this order. Therefore, if the sand mining ban is revoked; this would help in reviving growth. Other highlights: i) There was marginal pressure on asset quality as GNPL ratio increased 10% QoQ while Net NPL increased 7% QoQ. GNPL ratio increased...