* Q2 EPS $0.10 vs $0.40 last year

* Sees Q3 rev hurt by higher non-performing assets

April 17 (Reuters) - Washington Federal Inc (WFSL.O: Quote, Profile, Research) posted a 76 percent drop in second-quarter profit, hurt by an almost six-fold jump in provision for loan losses, and said it expects revenue for the third quarter to be hit by higher levels of non-performing assets.

The savings and loan holding company's net income available to common shareholders was $8.4 million, or 10 cents a share for the quarter ended March 31, compared with $35.5 million, or 40 cents a share, a year ago.

"Lower earnings.. are the result of a substantial increase in loan loss provision primarily related to the residential land and construction portfolio and centered in a few large credits," Chief Executive Roy Whitehead said in a statement.

Provision for loan losses was $54 million for the second quarter, compared with $9.5 million in the year-ago quarter.

Washington Federal, the parent of Washington Federal Savings, provides residential real estate loans, commercial real estate financing, consumer deposit accounts and business banking.

Shares of the Seattle-based company closed $13.55 Friday on Nasdaq. The shares have lost more than half their value since touching a 52-week high of $27.44 in September 2008. (Reporting by Kunal Raina in Bangalore; Editing by Himani Sarkar)