SHANGHAI – China’s Ant Group on Wednesday logged net profit of 11.38 billion yuan ($1.68 billion) in the quarter to March, down 17.3% from a year earlier, according to Reuters calculations from Alibaba Group Holding Ltd’s earnings report.
The e-commerce giant reports its profit from Ant one quarter in arrears.
($1 = 6.7558 Chinese yuan renminbi)
(Reporting by Josh Horwitz; Editing by Jan Harvey)