UPDATE 1-GMP Capital posts higher Q3 profit

* Q3 EPS C$0.12 vs C$0.11 yr-ago

* Q3 rev down 4 pct to C$71.5 mln

Nov 5 (Reuters) - Canada's GMP Capital Inc (GMP.TO) reported a 21 percent rise in quarterly profit, helped by lower expenses, but said weaker investment banking and commission revenue continued to affect its business.

The Toronto-based investment dealer said earnings rose to C$8.4 million ($7.91 million), or 12 Canadian cents per basic share, for the third quarter, from C$6.9 million, or 11 Canadian cents a basic share, a year ago.

The result fell short of the average analyst estimate for profit of 19 Canadian cents a share, according to Thomson Reuters I/B/E/S.

Revenue fell 4 percent to C$71.5 million, while expenses dropped 14 percent to C$59.2 million.

GMP said in the third quarter its assets under administration grew 11 percent sequentially to C$4.1 billion.

Shares of the company closed at C$14.83 Wednesday on the Toronto Stock Exchange. ($1=1.062 Canadian Dollar) (Reporting by Ashutosh Joshi in Bangalore; Editing by Deepak Kannan)