World Acceptance Corp (WRLD) has reported 6.79 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $31.85 million, or $3.64 a share in the quarter, compared with $29.82 million, or $3.42 a share for the same period last year. Revenue during the quarter went up marginally by 0.30 percent to $144.57 million from $144.14 million in the previous year period. Non-interest income for the quarter rose 10.63 percent over the last year period to $25.09 million.
World Acceptance Corp has made provision of $20.70 million for loan losses during the quarter, down 15.06 percent from $24.37 million in the same period last year.
Shareholders equity was at $461.06 million as on Mar. 31, 2017.
Return on average assets moved down 120 basis points to 8.80 percent in the quarter from 10 percent in the last year period. At the same time, return on average equity decreased 620 basis points to 17.80 percent in the quarter from 24 percent in the last year period.
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