Mubasher: Noor Financial Investment achieved an increase of 183.5% in profits during the first quarter of 2018, compared to the same period in the prior year.

Earnings enlarged to KWD 2.77 million ($9.18 million) in Q1-18 from about KWD 976,920 ($3.24 million) in Q1-17, according to a bourse statement on Thursday.

The increase in Q1 profits is attributed to higher unrealised and realised investments at fair value due to the improvement in the market value of its investments.

It is noteworthy that Noor reported a rise of 146.1% in profits to KWD 2.8 million during fiscal year 2017 compared to KWD 1.2 million in FY16.