Doha – Mubasher: QInvest, a Subsidiary to Qatar Islamic Bank (QIB), reported on Tuesday a net profit of QAR 15.3 million ($55.75 million) for the second quarter of the fiscal year 2016, 9.57% down from QAR 16.92 million ($61.66 million) for Q2-15.

However, net profit rose in the first half of fiscal 2016 by 3.69% to QAR 92.1 million ($25.3 million), compared to QAR 88.7 million ($24.4 million) in H1-15.

Total revenues for H1-16 also grew by 22.35% to QAR 239 million ($65.7 million) from QAR 195.6 million ($53.7 million) for H1-15.

QInvest earlier posted a net profit of QAR 37 million ($10 million) for Q1-16.