Mubasher: Kuwait Bahrain International Exchange reported a plunge of 58.8% in profits during the fiscal year of 2016 as compared to the same period of 2015.

Earnings shrank to about KWD 38,940 ($127,700) in Q4-16 from about KWD 94,390 ($309,550) in Q4-15, according to a bourse filing issued on Monday.

During FY16, the company incurred a loss of approximately KWD 115,350 against a profit of nearly KWD 465,390 in FY15.