Wins Finance Holdings Inc. (WIN) has reported a 33.46 percent plunge in profit for the quarter ended Sep. 30, 2016. The company has earned $3.10 million, or $0.15 a share in the quarter, compared with $4.66 million, or $0.16 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $3.92 million, or $0.20 a share compared with $4.66 million or $0.16 a share, a year ago.
Revenue during the quarter plunged 31.72 percent to $1.51 million from $2.22 million in the previous year period. Non-interest income for the quarter fell 3.45 percent over the last year period to $3.46 million.
"In the past year, we have made progress in our direct leasing business in the medical equipment and new energy sectors. $22.11 million (RMB 147 million) and $44.98 million (RMB300 million) were funded to medical equipment and new energy sectors, respectively. We remain focused on development of our leasing business in these sectors, both of which offer significant opportunities for investment. We expect these two sectors to continue to grow despite the economic slowdown and other macroeconomic factors," said Renhui Mu, Co chief executive officer and COO of Wins Finance. "We continue to expand our pipeline of leasing opportunities, and expect our geographic footprint to increase during in the second half of 2017."
Investments stood at $186.47 million as on Sep. 30, 2016. Shareholders equity was at $246.59 million as on Sep. 30, 2016.
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