Mubasher: Kuwait-based, Asiya Capital Investments Co on Thursday turned to profits in the third quarter of 2017, against losses in the same period in the year before.

The firm’s profits amounted to KWD 503,990 ($1.67 million) in Q3-17, against losses of KWD 590,000 ($1.95 million) in Q3-16, according to a bourse filing.

The Boursa-Kuwait listed company attributed turning profitable in Q3-17 to the rise in stock markets.

At the level of the first nine months of 2017, the company’s losses reached KWD 794,290, compared to KWD 4.63 million in the corresponding period in the year earlier.