Mubasher: Boubyan Petrochemical Company’s net profit climbed by 47.3% year-on-year in its second quarter ended 31 October 2019, the company’s bourse disclosure showed on Thursday.

Boubyan profit came in at KWD 1.122 million ($3.7 million) in the three-month period ended October, compared with KWD 761,970 ($2.52 million) in the year-ago period, the company said in its statement to Boursa Kuwait said.

This came as Boubyan raised its recently acquired stakes in subsidiary companies.

Boubyan’s operating revenues totalled KWD 19.727 million in its second quarter, soaring by 49% from KWD 13.250 million the year before.

Over the six-month period to last October, Boubyan generated KWD 3.33 million in net profit, surging by 54.1% year-on-year from KWD 2.16 million.

Moreover, revenues amounted KWD 41.592 million in the period between May and October, versus 22.570 million in the comparable period of the prior year.

On a side note, Boubyan announced earlier in the day the sale of its shares in oil giant Aramco, generating a net profit of KWD 1.6 million ($5.3 million).