SHANGHAI, Nov 15 (Reuters) - China's Ant Group reported

a 192.9% rise in net profit to 7.59 billion yuan ($1.05 billion)

in the three months to March 31, according to Reuters

calculations based on Alibaba Group Holdings' earnings

released on Friday.

The e-commerce giant reports profit from Ant one quarter in

arrears.

The near tripling of Ant Group's profit from a year earlier

was largely due to a 7.07 billion yuan fine levied on the group

a year earlier by the Chinese government for violating laws

concerning consumer protection and corporate governance, ending

a years-long regulatory overhaul of the fintech company.

Both groups were co-founded by Chinese billionaire Jack Ma

and Alibaba ( BABA ) holds a 33% stake in Ant.

($1 = 7.2275 Chinese yuan renminbi)