World Acceptance Corporation (WRLD) has reported 19.26 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $15.49 million, or $1.76 a share in the quarter, compared with $19.19 million, or $2.22 a share for the same period last year.
Revenue during the quarter dropped 5.24 percent to $129.27 million from $136.41 million in the previous year period. Non-interest income for the quarter fell 1.27 percent over the last year period to $12.29 million.
World Acceptance Corporation has made provision of $35.87 million for loan losses during the quarter, down 4.49 percent from $37.56 million in the same period last year.
Assets, liabilities fallTotal assets stood at $817.40 million as on Sep. 30, 2016, down 5.35 percent compared with $863.58 million on Sep. 30, 2015. On the other hand, total liabilities stood at $399.58 million as on Sep. 30, 2016, down 22.67 percent from $516.74 million on Sep. 30, 2015. Net loans stood at $714.08 million as on Sep. 30, 2016, down 6.54 percent compared with $764.04 million on Sep. 30, 2015.
Shareholders equity stood at $417.82 million as on Sep. 30, 2016, up 20.46 percent or $70.98 million from year-ago.
Return on average assets moved down 340 basis points to 9 percent in the quarter from 12.40 percent in the last year period. At the same time, return on average equity decreased 1460 basis points to 19.60 percent in the quarter from 34.20 percent in the last year period.
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
