Falls on lower Q3 revenue
30/11/2020 18:11
** U.S.-listed shares of Chinese fintech platform JFIN.O
drop 13% to $3.28
** Co's Q3 revenue falls 21.4% to 401.3 mln yuan ($59.1
mln), hurt by a slump in loan volumes and lower repeat borrowing
rate urn:newsml:reuters.com:*:nGNXVmpVy urn:newsml:reuters.com:*:nASA01G6J
** However, net income rises 8.1% to 88.4 mln yuan on the
back of cost cuts
** Co says as of Nov. 10, institutional funding accounted
for 100% of the total loans facilitated, eliminating its
dependence on funds from individuals
** Stock has fallen 28.3% so far this year
(Reporting by Devik Jain in Bengaluru)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))