Mubasher: Mobile Telecommunications (Zain) achieved an increase of 26% in profits during the third quarter of 2018 compared to the same period a year ago.

Earnings grew to KWD 51 million ($168.3 million) in Q3-18 from KWD 40.2 million ($132.6 million) in Q3-17, according to a recent statement.

The rise in Q3 profits was attributed to a surge of 55% in revenues to KWD 403 million.

From January to September 2018, Zain posted an increase of 12% in profits to KWD 137 million compared to KWD 122 million in the nine-month period in 2017.

Zain recorded a growth of 18% in revenues to KWD 906 million in 9M-18 from KWD 767 million in 9M-17.

At the stock level, Zain closed Wednesday’s session 1.98% higher at 463 fils.