Mubasher: Noor Financial Investment reported a surge in profits to KWD 2.84 million ($9.4 million) in the third quarter of 2017 compared to nearly KWD 13,390 ($44,330) in the same period a year ago.
During the nine-month period, Noor recorded a jump in its earnings to KWD 4.58 million from around KWD 70,040 in the same period a year ago, according to a bourse statement issued on Tuesday.
The leap in profits is attributed to higher unrealised revenues from investments at fair value (FV), as well as a yield of KWD 2.06 million from repaying a loan due to a local bank.
It is noteworthy that Noor achieved a growth in earnings to KWD 1.74 million during the first half of 2017 compared to approximately KWD 56,650 in the same period a year ago.
