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Ally Financial profit falls 79 percent


    (Reuters) - Auto-lender Ally Financial Inc , which went public in April, reported a 79 percent drop in quarterly profit as the company's year-ago results included more than $1 billion in income from discontinued operations.

    Net income fell to $227 million, or 33 cents per share, in the first quarter ended March 31, from $1.09 billion, or $2.16, a year earlier.

    Excluding the impact of the discontinued operations, the company reported core pre-tax income of $336 million, compared with a loss of $6 million.

    (Reporting by Anil D'Silva in Bangalore and and Peter Rudegeair in New York; Editing by Sriraj Kalluvila)