求助OG SC #90

Jack0114

90. The results of the company’s cost-cutting measures are evident in its profits, which increased 5 percent during the first 3 months of this year after it fell over the last two years.
(A) which increased 5 percent during the first 3 months of this year after it fell
(B) which had increased 5 percent during the first 3 months of this year after it had fallen
(C) which have increased 5 percent during the first 3 months of this year after falling
(D) with a 5 percent increase during the first 3 months of this year after falling
(E) with a 5 percent increase during the first 3 months of this year after having fallen

疑虑之处在于对C项（正确答案）后面的after falling。after在这里作为subordinating conjunction 引导的是时间状语从句，after falling应该是状语从句的省略，那问题来了，怎么样把句子还原呢？
状语从句的省略无非就是主语加be动词，so变成after they were falling, they指代profits, 用were是因为从句发生时间比主句have increased早，可是这样还原的话有和后面的时间状语over the last two years矛盾（这个应该接现在完成式才对啊）。

望NN们请教一下。。。