Manappuram Finance's non-gold portfolio grew 4% QoQ post de-growth in last 2 quarters as in the previous quarter it was impacted from Covid induced lockdown. Growth was led by 4% YoY growth in disbursements to Rs.15.19bn during Q3FY21. However, gold loan growth slowed down to 2.4% QoQ (11% QoQ Q2FY21) due to stable ticket size and decline in tonnage. MFI (19% of AUM) reported PAT of Rs.712mn post 2 consecutive quarters of loss (Rs.50mn H1FY21) due to lower provisions (down 26% QoQ) and AUM growth (8% QoQ) which is the key positive. NII grew by 16% YoY led by stable NIMs; PPoP grew by 21% YoY led by decline in operating expenses (down 5% YoY). PAT grew by 13% YoY led by higher provisions....