Riyadh – Mubasher: Malath Insurance Company achieved net profit before Zakat of SAR 4.63 million ($1.23 million) in September to decrease its nine-month losses to SAR 112.28 million ($29.94 million).

The accumulated losses reached SAR 174.5 million in September, representing 58.17% of the SAR 300 million capital, according to a bourse filing on Monday.

Operating profits reached SAR 1.49 million to raise the operating profits during the nine-month period of 2016 to SAR 121.48 million.

The company reported net profit before Zakat of SAR 2.15 million in August, for the net losses to retreat to SAR 116.9 million in eight months.