PJT Partners Inc. (PJT) has reported 422.75 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $1.33 million, or $0.07 a share in the quarter, compared with $0.26 million, or $0.01 a share for the same period last year. On an adjusted basis, net profit for the quarter was $19.01 million, when compared with $16.34 million in the last year period.

Revenue during the quarter grew 4.91 percent to $120.97 million from $115.30 million in the previous year period. Gross margin for the quarter expanded 44 basis points over the previous year period to 94.87 percent. Total expenses were 98.27 percent of quarterly revenues, up from 97.63 percent for the same period last year. That has resulted in a contraction of 64 basis points in operating margin to 1.73 percent.

Operating income for the quarter was $2.09 million, compared with $2.73 million in the previous year period.

Paul J. Taubman, chairman and chief executive officer, said, "With each passing quarter, PJT Partners makes progress towards capitalizing on the enormous potential that lies ahead. This quarter we benefited from meaningful growth in advisory revenues while continuing to experience significant momentum across our platform. We are more confident now in our future growth prospects than ever before."