Mubasher: Ajial Real Estate Entertainment reported a decrease of 67.9% in profits during the third quarter of 2018 compared to the same period in the previous year.

Net profits shrank to around KWD 554,700 ($1.83 million) in Q3-18 from KWD 1.72 million ($5.7 million) in Q3-17, according to a bourse statement on Monday.

During the nine-month period in 2018, profits narrowed by 11.5% to KWD 3.03 million from KWD 3.43 million in the same period last year.

The decrease in the nine-month income is attributed to exceptional profit in the prior fiscal year.

Operating revenues declined by 39% to KWD 3.07 million in 9M-18 from KWD 5 million in 9M-17.

At the stock level, Ajial Real Estate closed Monday’s session 2.86% higher at 144 fils.