Oaktree Capital Group, LLC (OAK) has reported a 95.58 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $54.92 million, or $0.87 a share in the quarter, compared with $28.08 million, or $0.45 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $162.09 million, or $0.86 a share compared with $105.02 million or $0.49 a share, a year ago. 

Revenue during the quarter grew 13.79 percent to $289.58 million from $254.49 million in the previous year period.

Total expenses were $192.56 million for the quarter, up 3.98 percent or $7.38 million from year-ago period. Operating margin for the quarter expanded 627 basis points over the previous year period to 33.50 percent.

Operating income for the quarter was $97.02 million, compared with $69.31 million in the previous year period.

Income from management fees during the quarter dropped 8.88 percent or $17.62 million to $180.93 million. Revenue from other real estate activities during the quarter was $108.66 million, up 94.25 percent or $52.72 million from year-ago period.

Jay Wintrob, chief executive officer, said, "Highlighting a solid beginning to 2017, Oaktree delivered a 25 percent increase in distributable earnings and a 54 percent increase in adjusted net income over the same quarter a year ago. We raised $3.1 billion of gross capital in the first quarter and $13.0 billion over the last twelve months. Continued strong investment performance across our closed-end funds has led to 30 percent growth in net accrued incentives over the last twelve months and bodes well for future distributable earnings."