MANAPPURAM

Adds details, background, analyst comments from paragraph 4 onwards

March 21 (Reuters) - Shares of India's Manappuram Finance MNFL.NS jumped 6% on Friday after analysts said that Bain Capital's plans to buy an 18% stake and jointly control the gold loan provider will help ease its management succession plans.

U.S. private equity firm Bain Capital will subscribe to Manappuram's shares and warrants at 236 rupees apiece, at a 9% premium over the stock's closing price on Thursday of 217.5 rupees.

After the investment, which is valued at $508 million, Bain Capital will jointly control Manappuram with other large shareholders, termed as 'promoters' under Indian regulations.

Manappuram's shares rose as much as 6.3% to 231.08 rupees - their highest level on record - as of 12:05 p.m. IST.

The company's founder and CEO V.P. Nandakumar, who has been at the helm for almost four decades, will become the company's non-executive chairman post the investment, it said on Thursday, with investors now eyeing nominations for the top role.

Bain Capital will also have the capacity to influence strategic decisions at Manappuram, including the right to nominate for the appointment of key roles, such as the CEO, which analysts at Jefferies and CLSA see as a key positive from the deal.

"We see the possibility of healthy re-rating in Manappuram stock as new management takes over," CLSA analysts said in a note.

Jefferies and CLSA raised their price targets on the stock after the announcement by 14.6% and 20%, respectively. They have "buy" and "outperform" ratings on the stock.

The deal, which comes at a time when record prices have made gold mortgaging appealing, is expected to close in the next financial year and will aid growth in Manappuram's gold loan business.

Gold loans contribute 75% of the company's overall revenue.

Jefferies also said that a part of the capital raised from the stake sale may be utilized to absorb losses in Manappuram's microfinance business, which was hit by uncertainty in market conditions and regulatory scrutiny .

Its unit, Asirvad Micro Finance would withdraw the IPO draft papers, Manappuram said on Thursday.

(Reporting by Manvi Pant in Bengaluru; Editing by Eileen Soreng)

(([email protected]; +918447554364;))

March 20 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• MANAPPURAM FINANCE - ASIRVAD MICRO FINANCE WILL MAKE NECESSARY APPLICATION TO SEBI TO WITHDRAW DRHP

Source text: ID:nNSE2Y5snf

Further company coverage: MNFL.NS

(([email protected];;))

** Shares of Muthoot Finance MUTT.NS rise 2.4% to 2235 rupees, set to snap three-straight days of losses

** Gold loans financier gets the Reserve Bank of India's permission to open 115 new branches

** Avg. analysts' rating on the stock is "Buy" vs "Hold" on peer Manappuram Finance MNFL.NS; median PT on MUTT is 2490.5 rupees - LSEG data

** Stock up 4% so far this year, after a 45% jump last year

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

** Shares of Manappuram Finance MNFL.NS climb as much as 3.8% to 209 rupees, last up 2.7%

** Bain Capital is nearing deal worth $1 bln with top shareholders of MNFL, The Economic Times newspaper reported

** Deal to acquire controlling stake in the gold loan financier, report added, citing sources

** Manappuram and Bain did not immediately respond to Reuters requests for comments

** Over 17.6 mln shares traded vs 30-day avg of 12.7 mln shares

** MNFL rated "hold" on avg, peer Muthoot Finance MUTT.NS rated "buy" - LSEG data

** Year-to-date, MNFL, MUTT up ~7%, ~4%, respectively

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of gold loan provider Manappuram Finance MNFL.NNS fall 11% this week, set for worst week since mid-Oct

** On the day, co down 5.1% at 184.1 rupees after third-quarter profit miss, hurt by stress in its microfinance business

** Of 13 analysts covering the stock, at least four downgraded MNFL after results; however, avg rating is "buy" - LSEG data

** YTD stock has lost 2.4%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

BENGALURU, Feb 13 (Reuters) - Indian gold loan financier Manappuram Finance MNFL.NS reported a third-quarter profit that missed analysts' estimates on Thursday, hurt by the stress in its microfinance business, including a quarter-long ban from issuing loans.

The company's consolidated net profit halved to 2.82 billion rupees ($32.5 million) in the quarter, missing analysts' average estimate of 4.59 billion rupees, as per data compiled by LSEG.

Indian lenders have seen rising default rates in microfinance loans, or collateral-free small loans to borrowers, following a period of aggressive lending in the segment.

Bad loans and provisions in Manappuram's microfinance unit surged four-fold to 4.73 billion rupees, accounting for a large chunk of total company-wide provisions of 5.55 billion rupees in the October to December quarter.

At the start of the period, the Reserve Bank of India (RBI) had barred the unit from sanctioning and disbursing loans due to "usurious" pricing and for charging a significant mark-up over funding costs. The RBI lifted the ban last month.

As a result, revenue in its microfinance business dropped around 5% to 6.65 billion rupees in the quarter.

However, revenue from Manappuram's gold loan portfolio, which contributes 75% of total revenue, rose 17%, aided by gold prices jumping to record highs.

Rising gold prices increase how much a customer can borrow against bullion, benefiting gold financiers in terms of loans issued.

The company's net interest income rose 5%.

While Manappuram missed analysts estimates, its larger rival Muthoot Finance MUTT.NS rode the increase in gold prices to report a bigger-than-expected quarterly profit on Wednesday.

($1 = 86.8680 Indian rupees)

(Reporting by Nishit Navin; Editing by Savio D'Souza)

(([email protected];))

Adds RBI lifting restrictions on Kotak Mahindra Bank

Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) and banks after they improved their compliance following a series of supervisory restrictions.

High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.

The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.

The following is a list of companies whose restrictions have been removed by the RBI.

KOTAK MAHINDRA BANK

The Reserve Bank of India on Wednesday lifted restrictions on Kotak Mahindra Bank KTKM.NS that had barred the lender from taking on new customers via its online and mobile banking channels, and from issuing new credit cards.

RBI had imposed business restrictions on the lender , asking it to stop adding clients through its online and mobile banking channels and issuing credit cards due to gaps in its IT infrastructure.

ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV

The RBI, last month, removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.

The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.

The same restrictions on Arohan were lifted last week, and from Navi in December.

EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE

The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.

The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.

JM FINANCIAL

A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.

The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.

IIFL FINANCE

In September, the RBI permitted IIFL Finance to resume issuance of gold loans.

The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.

BAJAJ FINANCE

The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.

The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.

(Reporting by Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Varun H K)

(([email protected]; Mobile: +91 9591011727;))

Jan 9 (Reuters) - Shares of Indian gold loan financier Manappuram Finance MNFL.NS rose as much as 6% on Thursday, a day after the country's central bank removed restrictions imposed on the company's unit.

The Reserve Bank of India (RBI) had in October barred four non-banking financial companies (NBFCs), which included Manappuram's unit Asirvad Micro Finance, from issuing loans due to "usurious" pricing and high markups.

The central bank removed these restrictions with immediate effect on Wednesday, saying the companies initiated remedial measures and submitted compliance reports, satisfying the regulator.

Manappuram's shares had fallen 21% to a more than one-year low following the ban, but recovered to pre-ban levels in December. They were last trading up 5% at 9:21 a.m IST.

"Removal of ban was largely expected and reflected in recent rebound in Manappuram's share price to pre-ban levels," Jefferies said, raising price target to 190 rupees from 167 rupees while keeping "hold" rating.

The stock is "buy" rated on average, with a median price target of 187.50 rupees, up from 180 rupees a month ago.

Manappuram's valuation seems attractive, but near-term earnings drag due to stress in microfinance portfolio can weigh on valuations, the brokerage said.

(Reporting by Sethuraman NR; Editing by Varun H K)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Adds details from the order in paragraph 3, background in paragraph 4-6

Jan 8 (Reuters) - India's central bank said on Wednesday it has removed restrictions imposed on non-banking financial companies (NBFCs), Asirvad Micro Finance and DMI Finance, against any fresh loan sanctions and disbursals with immediate effect.

The Reserve Bank of India (RBI) in October barred four NBFCs, including Manappuram Finance's MNFL.NS unit Asirvad Micro Finance as well as DMI Finance, from issuing loans due to "usurious" pricing and high markups.

RBI said, in response to its action, the companies initiated remedial measures and submitted compliance reports, satisfying the regulator, particularly regarding fairness in loan pricing.

The central bank now has lifted sanctions on all four NBFCs that were barred from disbursing loans in October. The RBI had previously removed lending restrictions on Navi Finserv and Arohan Financial Services.

Over the past year, the RBI has warned the financial sector against "all forms of exuberance" and tightened the rules for credit card and personal loans.

The central bank has also made it more expensive for NBFCs to borrow from banks and imposed restrictions on non-compliant entities.

(Reporting by Nishit Navin in Bengaluru; Editing by Krishna Chandra Eluri and Vijay Kishore)

(([email protected];))

Dec 20 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• RBI: IMPOSES MONETARY PENALTY OF 2 MILLION RUPEES ON MANAPPURAM FINANCE

Source text: [ID:]

Further company coverage: MNFL.NS

(([email protected];))

BENGALURU, Nov 14 (Reuters) - Indian gold loan provider Muthoot Finance MUTT.NS reported a 26% rise in its second-quarter profit on Thursday, boosted by strong loan demand, and raised its gold loan growth forecast for the financial year 2025.

The company's standalone quarterly profit rose to 12.51 billion rupees from 9.91 billion rupees a year earlier.

This was largely in line with analysts' average estimate of 12.58 billion rupees, according to data compiled by LSEG.

Domestic gold MAUc1 prices surged to record highs during the quarter, driving loan growth for lenders such as Muthoot Finance and Manappuram Finance MNFL.NS.

Rising prices of bullion benefit gold financiers as they increase the value of collateral gold and as more customers seek loans against higher-valued assets.

The company also revised its annual forecast for gold loan growth to 25% from a prior view of 15%, Managing Director George Alexander Muthoot said in a statement.

Muthoot's standalone loan assets under management jumped about 31% to 901.97 billion rupees as of the quarter ended Sept. 30, helped by a 28% jump in its core gold loan portfolio.

The company's interest income rose about 35% to 40.69 billion rupees.

Earlier this month, Manappuram Finance reported an unexpected growth in second-quarter profit as strong performance in its mainstay gold loan segment offset higher provisions.

Shares of Muthoot Finance ended 0.3% higher ahead of the results on Thursday.

(Reporting by Nishit Navin and Dimpal Gulwani; Editing by Shreya Biswas)

(([email protected];))

Nov 5 (Reuters) - India's Manappuram Finance MNFL.NS reported an unexpected growth in second-quarter profit on Tuesday, as strong performance in its mainstay gold loan segment offset higher provisions.

The gold loan financier's consolidated net profit rose 2% from last year to 5.71 billion rupees (about $68 million) for the three months ended Sept. 30.

Analysts were expecting a profit of 5.31 billion rupees as per data compiled by LSEG, a decline of 4.8%.

Domestic gold MAUc1 prices surged to record highs during the quarter, driving loan growth for lenders including Manappuram Finance.

Rising prices of bullion benefit gold financiers as they increase the value of collateral gold, and as more customers seek loans against higher-valued assets.

Revenue from the company's gold loan portfolio rose about 21% to 18.56 billion rupees, contributing about 70% of overall revenue.

Meanwhile, microfinance loans, or collateral-free loans to borrowers with annual incomes up to 300,000 rupees, jumped 22.6% to 7.81 billion rupees. The segment contributes 29.6% of revenue.

The company's consolidated assets under management rose 17.4% to 457 billion rupees, and its net interest income also jumped about 17.4%.

This offset a 117.5% growth in provisions for bad loans to 2.60 billion rupees. Impairments in its Asirvad Micro Finance unit jumped by 121.8%, the company said in an earnings statement.

Indian lenders like IndusInd Bank INBK.NS and Kotak Mahindra Bank KTKM.NS have flagged concerns in the microfinance space which has led to higher provisions, hurting their quarterly earnings.

In October, the Reserve Bank of India barred Asirvad Micro Finance from sanctioning and disbursing loans due to "usurious" pricing and for charging a significant mark-up over funding costs.

Shares of Manappuram Finance closed 4% higher ahead of the results.

($1 = 84.0740 Indian rupees)

(Reporting by Dimpal Gulwani; Editing by Varun H K)

(([email protected];))

** Gold loan financier Manappuram Finance MNFL.NS slides 15% to 150.73 rupees, lowest in 10 months

** India's central bank barred four non-bank finance companies, including MNFL's unit Asirvad Micro Finance, from sanctioning and disbursing loans from Oct. 21

** Jefferies downgrades to "hold" from "buy", cuts TP by 6% to 167 rupees as RBI restrictions expected to hurt profit

** Says earnings to take a hit on unwinding of microfinance loans and possible rise in defaults at Asirvad, which forms 27% of MNFL's consol AUM

** Cuts FY25-26 loan book by 13-15% over the ban, which it expects will remain through FY25

** Stock rated "buy" on avg; median PT is 230 rupees - LSEG

** MNFL down 7% YTD vs rival Muthoot Finance's MUTT.NS ~32% rise

(Reporting by Dimpal Gulwani in Bengaluru)

(([email protected]))

Corrects to non-bank lenders, from micro lenders, in headline and paragraph 1

By Swati Bhat and Siddhi Nayak

MUMBAI, Oct 17 (Reuters) - India's central bank barred four non-bank finance companies (NBFCs) from sanctioning and disbursing loans due to "usurious" pricing and breaching regulatory norms, it said in a release on Thursday.

The ban on Asirvad Micro Finance, Arohan Financial Services, DMI Finance and Navi Finserv is effective from the close of business on Oct. 21, the Reserve Bank of India (RBI) said.

The companies' pricing policies in terms of their weighted average lending rate (WALR) and the interest spread charged over their cost of funds were found to be excessive and did not adhere to regulations, the RBI said.

"In addition to usurious pricing, these NBFCs were variously found to be in non-adherence with the regulatory guidelines on assessment of household income and consideration of existing/ proposed monthly repayment obligations in respect of their microfinance loans," the RBI said.

It also noted deviations in terms of income recognition & asset classification (IR&AC) norms, which led to evergreening of loans, as well as how the firms managed their gold loan portfolio, handled mandated disclosures on interest rates and fees and outsourced core financial services, among other things.

The companies continued with these practices despite the RBI asking them, over the last few months, to use their regulatory freedom responsibly and ensure fair, reasonable and transparent pricing, especially for small-value loans, the regulator said.

None of the four NBFCs immediately replied to an email seeking comment.

The ban does not preclude the companies from servicing existing customers and carrying out collection and recovery processes as per rules, the RBI said.

The regulator said it would review its decision once the companies confirmed they had taken remedial action.

DMI Finance's total loan book was 118.43 billion rupees as of end March, while that of Asirwad, a unit of Manappuram Finance MNFL.NS, was at 102.95 billion rupees.

In August, DMI Finance had said it plans to raise funds from Japan's Mitsubishi UFJ Financial Group 8306.T at a valuation of about $3 billion to "ramp up" its lending.

(Reporting by Siddhi Nayak; Editing by Savio D'Souza)

(([email protected]; +91 22 6921 7848; Reuters Messaging: X: https://twitter.com/siddhiVnayak))

Oct 1 (Reuters) - Shares of Indian non-bank gold lenders Manappuram Finance MNFL.NS and Muthoot Finance MUTT.NS dropped 2% each early on Tuesday, a day after the central bank said it found "several irregular practices" in the industry.

The Reserve Bank of India warned that non-compliance with regulatory guidelines could attract, among other things, supervisory action by the central bank.

Those comments are "a sentimental negative for the gold lenders", brokerage Motilal Oswal said in a note.

(Reporting by Nandan Mandayam in Bengaluru and Siddhi Nayak in Mumbai; Editing by Savio D'Souza)

(([email protected]; Mobile: +91 9591011727;))

Adds analyst commentary in paragraph 5,6,10 and 11, financials in paragraph 7

By Dimpal Gulwani and Siddhi Nayak

BENGALURU/MUMBAI, Sept 20 (Reuters) - Shares of India's IIFL Finance IIFL.NS surged 13% on Friday, after the country's central bank revoked an earlier ban on the non-bank lender's gold loan business.

Shares rose as much as 13% to 560.60 rupees, their highest since late February, before paring some gains to trade 8.5% higher, as of 11:34 am IST. It had fallen about 14% as of last close, after the Reserve Bank of India's ban in March.

The RBI had ordered IIFL Finance to stop disbursing gold loans with immediate effect, citing "material supervisory concerns".

Following the curbs, the company started a special audit in April as directed by the RBI.

"We expect IIFL to now make a strong comeback in the gold lending business to regain its market share in the segment," analysts at brokerage Motilal Oswal said in a note on Thursday.

"We believe that IIFL could even take pricing actions and compete aggressively (if needed) to accelerate its gold loan growth."

IIFL reported a net loss of 226.6 million rupees ($2.71 million) for the quarter ended June 30, compared with a profit of 1.51 billion rupees a year earlier, hurt by the RBI's embargo.

Gold loans accounted for 21% of the company's total loan assets, as of June 30, down from 30% as of March-end.

On Friday, peers Muthoot Finance dropped 3% and Manappuram Finance fell as much as about 4%, before paring losses to trade flat.

Investors are assured that IIFL Finance has taken corrective measures and is working towards strengthening compliance, said Kranthi Bathini, director of equity strategy at WealthMills Securities.

"Now that the restrictions are lifted, the company will take about 6-8 months to bounce back and shred the lag effect coupled with rise in gold prices which could help the stock."

($1 = 83.5340 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru and Siddhi Nayak in Mumbai; Editing by Rashmi Aich)

(([email protected];))

** IIFL Finance IIFL.NS slides 6.2% to 496 rupees

** Non-bank finance co faces downgrade risks as a regulatory ban on its gold loan business remains unresolved, Bloomberg News reports

** Report adds that a potential downgrade may pressure the firm's borrowing channels and could cut more than 9,000 jobs if ban persists

** In March, RBI ordered co to stop disbursing gold loans over "material supervisory concerns" in its gold loan portfolio

** Stock has declined ~14% since March 4, when the RBI action came in

** YTD, IIFL is down ~15% vs Muthoot Finance MUTT.NS and Manappuram Finance MNFL.NS gaining ~37% and ~19%, respectively

(Reporting by Dimpal Gulwani in Bengaluru)

(([email protected]))

** Shares of Indian jewellers jump 4-20%; gold financers gain as much as 4%

** Gold at record high on US rate cut optimism

** Tribhovandas Bhimji Zaveri TBZL.NS surges 20% and PC Jeweller PCJE.NS jumps 5%, both hit exchange-allowed upper limit

** Kalyan Jewellers KALN.NS and Senco Gold SENC.NS climb 6.3% and 4.1%, respectively, hit record highs

** Gold financiers Muthoot Finance MUTT.NS and Manappuram Finance MNFL.NS advance 2.6% and ~4% respectively

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

MUMBAI, Aug 16 (Reuters) - India's Manappuram Finance MNFL.NS has accepted bids worth 3.45 billion rupees ($41.11 million) for bonds maturing in two years, three bankers said on Friday.

It had invited coupon and commitment bids for the issue earlier in the day.

Here is the list of deals reported so far on Aug. 16:

*Size includes base plus greenshoe for some issues

($1 = 83.9210 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Janane Venkatraman)

(([email protected]))

MUMBAI, Aug 13 (Reuters) - India's Manappuram Finance MNFL.NS plans to raise 6 billion rupees ($71.48 million) including a greenshoe option of 2.50 billion rupees by selling bonds maturing in two years, three merchant bankers said on Tuesday.

The company will pay a coupon of 9.10% on this issue, and has invited bids from investors and bankers on Friday, they said.

Here is the list of deals reported so far on Aug. 13:

*Size includes base plus greenshoe for some issues

($1 = 83.9390 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Sherry Jacob-Phillips)

(([email protected]))

Aug 5 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• TO CONSIDER ISSUE OF NON–CONVERTIBLE DEBENTURES

Further company coverage: MNFL.NS

(([email protected];))

July 26 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• POTENTIAL FRAUD PERPETUATED BY AN EMPLOYEE OF CO'S UNIT

• ESTIMATED QUANTUM OF POTENTIAL FRAUD IS 200 MILLION RUPEES

Source text for Eikon: ID:nBSE6Q7ffJ

Further company coverage: MNFL.NS

(([email protected];))

July 22 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• MANAPPURAM FINANCE - TO CONSIDER ISSUE OF NON - CONVERTIBLE DEBENTURES

Source text for Eikon: ID:nBSE2NwHjq

Further company coverage: MNFL.NS

(([email protected];))

** Shares of Manappuram Finance Ltd MNFL.NS and India's biggest gold financier Muthoot Finance Ltd MUTT.NS rise as much as 3.3% and 2.8%, respectively

** Jefferies initiates both gold financiers with "buy", sees them reporting higher loan growth that would outperform other non-bank lenders

** Brokerage highlights gold loan firms' low risks to asset quality and high returns while also flagging MNFL and MUTT's cheap valuations

** However, Jefferies sees competition increasing once ban on IIFL Finance IIFL.NS issuing gold loans is lifted by RBI

** Analysts tracking MNFL rate it "strong buy" on avg, with Jefferies' 270 rupees PT a Street-high

** MUTT is rated "buy" on avg, and Jefferies' 2,220 rupees PT is second highest on Street

** MNFL and MUTT extend YTD gains to 33% and ~26%, respectively vs IIFL's 16.6% fall

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

** Shares of Manappuram Finance Ltd MNFL.NS rise as much as 3.5% to 199.80 rupees

** CLSA maintains "buy" rating, raises PT to 240 rupees from 220 rupees; says non-bank lender's gold loan business has seen strong momentum since March, when India cenbank barred rival from disbursing such loans

** Reserve Bank of India (RBI) had barred IIFL Finance IIFL.NS from disbursing gold loans citing "material supervisory concerns"

** MNFL benefiting from acquisition of new customers being "turned away" by competitor, CLSA says, without naming IIFL

** Brokerage raises FY25 gold loan growth estimates to double digits from single digits; ups FY25-27 overall net profit estimates by 4%-6%

** Analysts tracking MNFL rate it "buy" on avg; CLSA's PT makes it second-highest on street - LSEG data

** MNFL up 6.3% since RBI's order against IIFL; latter down ~21%

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

** Shares of India's IIFL Finance IIFL.NS rise as much as 8% to highest since March 4

** Co said over the weekend it has completed special audit required by the Reserve Bank of India, expecting "positive action" soon

** Co had reported a Y/Y fall in Q4 profit, mainly impacted after RBI barred it from offering gold loans

** Stk is still down ~14% from March 4, when RBI action came in

** IIFL down 14% YTD, worst performer among gold loan financers; Rivals Muthoot Finance MUTT.NS, Manappuram Finance MNFL.NS up ~19% and 10%, respectively

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

BENGALURU, May 30 (Reuters) - Muthoot Finance MUTT.NS, India's largest gold loan provider, reported a higher-than-estimated quarterly profit on Thursday, boosted by strong loan demand amid rising bullion prices.

The company's standalone profit rose 17% to 10.56 billion rupees ($127 million) in the fourth quarter, beating analysts' expectations of 10.23 billion rupees, according to LSEG data.

Its interest income rose around 20% to 33.58 billion rupees.

Benchmark spot gold prices XAU= rose 22% in the January-March period from a year earlier, bolstering loan growth for lenders such as Muthoot.

Rising prices of bullion benefit gold financiers by increasing the value of pledged gold collateral, driving growth as more customers seek loans against their higher-valued assets.

Last week, smaller rival Manappuran Finance also reported a bigger-than-expected profit.

However, non-bank lenders have to also contend with elevated financing costs, which rose nearly 30% for Muthoot in the quarter.

Analysts expect Muthoot also benefited from a regulatory ban, in March, on IIFL Finance IIFL.NS from disbursing gold loans due to "material supervisory concerns" in its portfolio.

Muthoot's standalone loan assets under management increased 20% to 758.27 billion rupees for the year ended March 31.

Earlier this month, Reuters reported that the central bank had warned some non-bank lenders against disbursing cash loans in excess of the permissible limit of 20,000 rupees.

Muthoot's infrastructure was already in place to move its remaining cash-transacting customers to digital channels, Managing Director George Alexander Muthoot said in a statement.

The company's shares ended 3.7% lower ahead of the results.

($1 = 83.2750 Indian rupees)

(Reporting by Nishit Navin; Editing by Savio D'Souza)

(([email protected];))

May 24 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• MANAPPURAM FINANCE MARCH-QUARTER CONSOL NET PROFIT 5.62 BILLION RUPEES; LSEG IBES PROFIT EST. 5.59 BILLION RUPEES

• MANAPPURAM FINANCE MARCH-QUARTER CONSOL INTEREST INCOME 22.73 BILLION RUPEES

• MANAPPURAM FINANCE YEAR AGO MARCH-QUARTER CONSOL NET PROFIT 4.13 BILLION RUPEES, INTEREST INCOME 17.18 BILLION RUPEES

• DIVIDEND AT 1 RUPEEPER SHARE

Further company coverage: MNFL.NS

(([email protected];;))

May 9 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• MANAPPURAM FINANCE - RBI’S ADVISORY REITERATING LIMIT OF 20,000 RUPEES FOR DISBURSING CASH LOANS WOULD NOT HAMPER CO'S BUSINESS

• MANAPPURAM FINANCE ON RBI’S ADVISORY ON DISBURSING CASH LOANS: HAVE ALWAYS FOLLOWED FULLY-COMPLIANT PROCESSES, WILL CONTINUE TO DO SO

• MANAPPURAM FINANCE: DON’T SEE RBI ADVISORY DISSUADING CUSTOMERS FROM OBTAINING GOLD LOANS

Source text for Eikon: [ID:]

Further company coverage: MNFL.NS

(([email protected];))

May 8 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• MANAPPURAM FINANCE - APPROVED PRICING, TENOR AND OTHER TERMS OF NOTES UNDER EMTN PROGRAMME

• MANAPPURAM FINANCE- PROCEEDS OF NOTES WILL BE USED BY CO FOR ONWARD LENDING, REFINANCING AND OTHER ACTIVITIES

• MANAPPURAM FINANCE- NOTES WILL BE ISSUED UNDER USD $750 MILLION EURO MEDIUM TERM NOTE PROGRAMME

Source text for Eikon: ID:nBSE92z3Vq

Further company coverage: MNFL.NS

(([email protected];))