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

OA is C

What is wrong about option E. what is wrong in using prepositional phrase ?