Mubasher: Gulf Petroleum Investment (PetroGulf) has reported a 69.4% year-on-year loss decline during the third quarter of the fiscal year 2019.

The company’s loss dropped to KWD 404,030 ($1.33 million) in Q3-19, compared to KWD 1.32 million ($4.36 million) in the year-ago period, according to a bourse statement released on Tuesday.

In the first nine months of 2019, the Boursa Kuwait-listed firm’s loss declined by 59.1% YoY to KWD 958,150.

PetroGulf registered a 45.7% YoY decrease in losses to approximately KWD 554,120 in the first half of 2019.