Muthoot Finance (MUTH) reported strong growth in gold AUM at 27% YoY vs 21% YoY (FY20) (32% YoY in Q3FY21). Overall AUM grew by 24% YoY; management guided for 15% growth on conservative basis in FY22. Profitability growth was lower at 22%. NII grew by 16% YoY led by decline in margins; while PPoP grew by 24% YoY led by improvement in cost to income ratio (28% vs 33% YoY). Provisions declined sequentially by 81% while up 131% YoY. Stage III loan assets improved to 0.88% vs 1.30% QoQ, while Company carries excess provision of Rs2.95bn in balance sheet. On Non gold portfolio front, Restructuring stood at Rs0.06bn, however, stage III in VF and MFI business stands...