Kuwait – Mubasher: Hits Telecom Holding’s profits surged 1529% year-on-year to KWD 908,990 ($3 million) in the second quarter of 2016 from KWD 55,800 ($184,481).

Higher profits of joined projects contributed to the increase in profits, according to a bourse filing on Tuesday.

The company achieved KWD 1.07 million profits in H1-16 compared to KWD 473,030 in H1-15.

Hits Telecom is listed on both Kuwait Stock Exchange (KSE) and Dubai Financial Market (DFM).