SHANGHAI, May 14 Reuters China39;s Ant Group posted a 19 fall in net profit of 7.87 billion yuan 1.09 billion in the three months to Dec. 31, according to Reuters calculations based on Alibaba Group Holding39;s earnings released on Tuesday.

The ecommerce giant reports profit from Ant one quarter in arrears.

Chinese authorities last announced a fine of 7.12 billion yuan for Ant Group for violating laws concerning consumer protection and corporate governance, ending a yearslong regulatory overhaul of the fintech company.

Both groups were cofounded by Chinese billionaire Jack Ma and Alibaba holds a 33 stake in Ant.

1 7.2342 Chinese yuan renminbi

Reporting by Casey Hall; editing by Jason Neely

Source Reuters