Kuwait - Mubasher: Ooredoo Kuwait posted a drop of 28% in the second quarter’s profits this year as compared to the corresponding period in 2015.

Net profits decreased to KWD 9.07 million ($29.94 million) in Q2-16, compared to KWD 12.6 million ($41.59 million) in Q2-15.

Ooredoo achieved a 30% growth in profits of the first half to KWD 19.28 million as compared to KWD 14.84 million posted in H1-15, the company said in a bourse filing.

Ooredoo stock ended Monday’s session falling by 1.82% to KWD 1.080 after about 6,250 shares were traded at a value of approximately KWD 6,750.