China's Ping An Insurance net profit up 7.74 pct in third quarter
The Ping An Insurance (Group) Company of China Ltd., one of the country's largest insurers, posted a 7.74-percent increase in net profit in the third quarter of the year.
The company's net profit in the third quarter stood at 34.36 billion yuan (about 5.1 billion U.S. dollars), a marked improvement from losses in the previous two quarters, the company said in a statement filed with the Shanghai Stock Exchange.
The company's operating revenue during the July-September period rose 13.22 percent to 287.1 billion yuan.
For the first three quarters, the company's net profit declined 20.5 percent from the same period last year to 103 billion yuan, narrowing considerably from the drop in the first half of the year, the firm said.