Dubai-Mubasher: Amanat Holdings reported a 11464.5% jump year-on-year in its profits during the second quarter of 2016, according to the company's financial announcements. 

Profits reached AED 14.34 million ($3.90 million) in Q2-16, compared to AED 124,000 ($33,750) in Q2-15. 

Amanat posted “a net profit of AED 23.8 million for the first half of 2016, a significant increase over the figure stated for the same period last year of AED 1.6 million”, the company said in a press release.

The company’s total income stood at AED 32.5 million in H1-16, while operating expenses reached AED 16.4 million during the same half.