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April 24 (Reuters) - U.S. auto-finance company AmeriCredit Corp ACF.N posted a 63 percent fall in quarterly profit on higher restructuring charges and provision for bad loans.
The Fort Worth, Texas-based company reported third-quarter net income of $38.2 million, or 31 cents a share, compared with $103.7 million, or 80 cents a share, a year ago.
Revenue rose about 4 percent to $638.7 million.
Analysts expected the company to earn 21 cents a share, excluding special items, on revenue of $635.7 million, according to Reuters Estimates.
Restructuring charges rose to $9.2 million from $757,000, while provision for loan losses increased 33 percent to $250.7 million in the quarter.
Automobile loan purchases dropped 47 percent to $1.33 billion in the quarter.
Shares of AmeriCredit, which competes with Credit Acceptance Corp (CACC.O), Capital One Financial Corp (COF.N) and Consumer Portfolio Services Inc (CPSS.O), have lost more than half of their value in the last 52 weeks.
AmeriCredit shares closed at $11.80 Thursday on the New York Stock Exchange. (Reporting by Ratul Ray Chaudhuri in Bangalore; Editing by Himani Sarkar)