Abu Dhabi-Mubasher: Al Khaleej Investment (KICO)’s earnings grew in the first quarter of fiscal 2016 by 32.3% year-on-year.

Net profit reached AED 4.1 million ($1.11 million) in Q1-16, versus AED 3.1 million ($844,000) in Q1-15, according to a bourse statement released on Sunday.

The rise was attributed to the increase in rental revenue by 21.13% to AED 6.82 million ($1.86 million) by the end of March 2016, compared to AED 5.63 million ($1.53 million) in the same period of 2015.