Ant Group quarterly profit down 91% to 1.2 billion yuan
Reuters
Mar 19
Ant Group quarterly profit down 91% to 1.2 billion yuan
SHANGHAI, March 19 (Reuters) - China's Ant Group posted a 91% fall in net profit to 1.2 billion yuan in the three months to Sep 30, according to Reuters calculations based on Alibaba Group Holdings' 9988.HK earnings released on Thursday.
The e-commerce giant reports profit from Ant one quarter in arrears.
Both groups were co-founded by Chinese billionaire Jack Ma and Alibaba holds a 33% stake in Ant.
(Reporting by Casey Hall in Shanghai, Editing by Louise Heavens)
((casey.hall@thomsonreuters.com))
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