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Guotai Junan Securities reports YOY slip in Q3 net profit

China's Guotai Junan Securities Co. Ltd. reported a year-over-year decline in net profit for the quarter ended Sept. 30.

The company said Oct. 30 that net profit attributable to owners of the company for the quarter ended Sept. 30 slipped to 2.28 billion yuan from 2.63 billion yuan in the prior-year period.

Net fee and commission income dropped to 2.57 billion yuan from 3.07 billion yuan, and investment gains fell to 1.31 billion yuan from 1.49 billion yuan. Meanwhile, net interest income rose to 1.45 billion yuan from 1.31 billion yuan. As a result, operating revenue for the period fell to 5.51 billion yuan from 6.30 billion yuan in the year-ago period.

The company's operating expenses declined to 2.38 billion yuan from 2.67 billion yuan.

For the nine months ended Sept. 30, the company's net profit attributable to owners fell to 7.04 billion yuan from 7.65 billion yuan in the year-ago period.

EPS for the nine-month period dropped to 80 fen from 94 fen.

As of Oct. 30, US$1 was equivalent to 6.65 Chinese yuan.