Mubasher: Kuwait Telecommunication Co (Viva) achieved an increase of 49% in profits during the third quarter of 2018 compared to the corresponding quarter last year.

Earnings grew to KWD 13.59 million ($44.82 million) in Q3-18 from KWD 9.12 million ($30.08 million) in Q3-17, according to a bourse disclosure on Monday.

From January to September 2018, Viva recorded a rise of 82.3% in profits to KWD 37.88 million compared to KWD 28.79 million in the same nine months in 2017.

Viva clarified that the growth in 9M profits is attributed to higher revenues as well as the programme of reducing costs.

At the stock level, Viva closed Monday’s session at 720 fils.