Chinese e-commerce giant Alibaba.com posted year-on-year profit growth of 28 percent for the second quarter of this year, according to the company's quarterly and semi-annual reports.
The operator of China's largest e-commerce site, Alibaba.com recorded 464.5 million yuan (72.6 million U.S. dollars) in profits in the second quarter, the reports said.
Revenues for the period rose 19 percent year-on-year to 1.62 billion yuan, according to the reports.
In the first half, the company earned a net profit of 917 million yuan, up 32 percent year-on-year, while revenues increased 22 percent year-on-year to 3.16 billion yuan.
Alibaba.com attributed the growth to stronger revenues from value-added services and improvements in its products.
The performance reflected a shift of the company's focus from accelerating new customer acquisition to enhancing products and services for existing customers, the company said in a statement on its website.
The company said it has taken more measures to prevent high-risk suppliers from joining the site.
As of June 30, the number of paying members in the company's international and domestic marketplaces grew 14.4 percent year-on-year, 2.1 percent lower than the number posted three months earlier.
The number of buyer complaints declined by 70 percent from February, and average daily traffic in the international marketplace surged 65 percent year-on-year as of the end of June, Alibaba.com chief executive officer Jonathan Lu said in the statement.
Founded in east China's city of Hangzhou in 1999, Alibaba.com has about 69 million registered users in more than 240 countries and regions.
