The net profits of Barita Investments tumbled by 55 per cent to $627.5 million on a 40 per cent drop in its revenues to $2.1 billion during the second quarter of this financial year, from $3.4 billion during the same quarter of the previous year.
The company's financial report for the period indicated that the steep fall in its revenues was mainly due to a 66 per cent dip in its gains on investments to $744 million and 22 per cent fall in fees and commissions income to $950 million.
These declines were partially offset by a sharp increase in gains from foreign exchange trading to $242 million.
Net interest income also jumped by 52 per cent to $213 million.
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