KUALA LUMPUR: Aeon Credit Service (M) Bhd saw its net profit rise 26% to RM67.05 million in the third quarter ended Nov 30, 2016 (3QFY17) from RM53.36 million a year ago, on higher revenue and other operating income.

According to the group’s bourse filing yesterday, its 3QFY17 revenue was up 14% year-on-year (y-o-y) at RM280.35 million compared with RM245.78 million previously.

For the nine months ended Nov 30, 2016 (9MFY17), Aeon Credit’s net profit grew 16% y-o-y to RM184.97 million from RM160.09 million, as revenue gained 15% y-o-y to RM811.11 million from RM706.94 million.

Aeon Credit said its financing receivables as at Nov 30, 2016 were RM6.21 billion, up 21% from RM5.15 billion as at Nov 30 last year, with higher growth registered for personal financing and vehicle financing portfolios.

The non-performing loan ratio was 2.33% as at Nov 30, 2016, compared with 2.68% a year ago.

Aeon Credit’s operating income — which rose 31% y-o-y in 3QFY17 to RM28.42 million, and 24% to RM81 million in 9MFY17 — comprised mainly bad debts recovered, commission income from sale of insurance products and AEON Big loyalty programme processing fees.

“The company expects to be able to maintain its current financial performance for the year ending Feb 28, 2017 (FY17) despite challenges posed by the Asian economy,” it added.

Shares in Aeon Credit closed four sen or 0.28% lower at RM14.24 yesterday, with 208,500 shares traded, with a market capitalisation of RM2.05 billion.