Cairo – Mubasher: Arafa for Investment and Consultancies turned into losses during the period extended from July to October 2016, a bourse filing revealed on Tuesday in light of the consolidated results.

Over the four months ended 31 October 2016, net losses reached $512,800 against $3.06 million profits for the year-ago period.

The company earned $3.04 million in the nine-month period during February-October 2016, lower 53.2% year-on-year from $6.5 million.

The company's fiscal year starts on the first of February.

The stock quote lowered 5.88% to $0.16 on Tuesday by 10:53am Cairo local time.