Wins Finance (WIN) has reported an 132.47 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $7.93 million, or $0.39 a share in the quarter, compared with $3.41 million, or $0.16 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $5.65 million, or $0.28 a share compared with $3.62 million or $0.17 a share, a year ago.

Revenue during the quarter surged 68.25 percent to $3.86 million from $2.29 million in the previous year period. Non-interest income for the quarter fell 4.19 percent over the last year period to $3.37 million.

Wins Finance has made provision of $0.15 million for loan losses during the quarter, down 18.92 percent from $0.18 million in the same period last year.

"Our gross revenue was modestly down for the second fiscal quarter year-over-year, and virtually unchanged for the latest six months ended December 31, 2017 as compared to the year-ago six-month period. However, we expect that the continuing slowdown of the Chinese economy, which has adversely affected financial services businesses in China, could substantially affect our financial guarantee business in the coming quarters where this business segment could become severely constrained," said Renhui Mu, chairman and chief executive officer of Wins Finance.

Investments stood at $179.12 million as on Dec. 31, 2016. Shareholders equity was at $242.42 million as on Dec. 31, 2016.