(Reuters) - U.S. investment bank Jefferies Group LLC [JGLL.UL] said on Tuesday its profit rose 3.1 percent in the fourth quarter, helped by its investment banking business.
Net income attributable to the company rose to $90 million in the quarter ended Nov. 30, from $87.2 million a year ago.
Jefferies said revenue from its investment banking business, which advises companies on debt and equity financing as well as mergers and acquisitions, jumped 27.4 percent to $528.7 million.
However, trading revenue remained subdued due to persistently low volatility, which also hurt most Wall Street banks in the previous quarter.
Total equities and fixed income revenue fell to $289 million from $325.4 million a year earlier, when volatility was higher due the U.S. presidential election and the Brexit vote.
Jefferies said net revenue, which excludes interest expense, jumped 10.9 percent to $822.6 million in its latest quarter. reut.rs/2BeNSqe
The company had $39.71 billion in total assets at the end of the quarter.
The results from New York-based Jefferies, a unit of Leucadia National Corp LUK.N, are considered an indicator of the performance of its bigger peers on Wall Street.
Reporting By Aparajita Saxena in Bengaluru; Editing by Savio D'Souza