Credit Acceptance Corp (CACC) has reported 16.08 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $85.90 million, or $4.21 a share in the quarter, compared with $74 million, or $3.53 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $92.40 million, or $4.53 a share compared with $78.90 million or $3.77 a share, a year ago. Revenue during the quarter grew 17.32 percent to $246.60 million from $210.20 million in the previous year period. Non-interest income for the quarter rose 18.37 percent over the last year period to $234.60 million.
Assets outpace liabilities growthTotal assets stood at $4,093.10 million as on Sep. 30, 2016, up 21.26 percent compared with $3,375.60 million on Sep. 30, 2015. On the other hand, total liabilities stood at $2,927.40 million as on Sep. 30, 2016, up 19.76 percent from $2,444.30 million on Sep. 30, 2015. Net loans stood at $3,764.40 million as on Sep. 30, 2016, up 27.20 percent compared with $2,959.50 million on Sep. 30, 2015.
Shareholders equity stood at $1,165.70 million as on Sep. 30, 2016, up 25.17 percent or $234.40 million from year-ago.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
