Kuwait-Mubasher: Injazzat Real Estate Development posted a drop of 37.4% in profits of the first quarter in 2016 as compared to the same period in 2015, the company said in an issued statement.

Injazzat’s Q1 earnings reached KWD 1.37 million ($4.53 million) as compared to KWD 2.19 million ($7.24 million) in Q1-15.

On KSE’s level, the stock ended Monday’s session falling 2.63% to 74 fils, after 16.4 million shares were traded with a value wirth about KWD 1,210.