, a leading business-to-business (B2B) e-commerce company in China, said late Wednesday its revenue rose 18.6 percent year-on-year to 806.6 million yuan ($118.3 million) in the first quarter, while its net profit dropped 15.7 percent to 253.4 million yuan.

Net profit rose 27.1 percent over the previous quarter, Alibaba said.

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