Israel's Discount Inv posts higher Q3 profit

TEL AVIV, Nov 25 (Reuters) - Israeli holding company Discount Investment Corp (DISI.TA) posted a rise in quarterly profit, boosted by strong results at its subsidiaries and lower expenses.

Net profit in the third quarter increased to 176 million shekels ($44.4 million), or 2.0 shekels per diluted share, from 116 million shekels, or 1.5 shekels a share, a year earlier, Discount said on Tuesday.

Discount's latest quarterly numbers were boosted by a capital gain of 268 million shekels from its subsidiary Koor Industries' (KOR.TA) investments in Credit Suisse (CSGN.VX).

Koor owns 3.4 percent of the Swiss bank having acquired 34 million Credit Suisse shares in October as part of the bank's recapitalisation.

Discount said it would distribute a dividend of 180 million shekels, or 2.11 shekels per share, on Dec. 16.

Discount, one of Israel's leading holding companies, owns major stakes in Cellcom (CEL.TA) (CEL.N), Israel's biggest mobile phone operator, MA Industries (MAIN.TA), the world's biggest maker of generic agrochemicals, and Israel's largest supermarket chain Super-Sol (SAE.TA).

It owns 52 percent of Koor and is a subsidiary of IDB Development Corp IDBD.TA.

Discount said it was considering a reorganisation of some of its holdings, including possibly acquiring IDB's 13 percent stake in Koor, selling its 21 percent stake in Hadera Paper (HAP.TA) (AIP.A) to its sister company Clal Industries (CII.TA) and turning Elron Electronic Industries (ELRN.TA) (ELRN.O) into a private company. ($1 = 3.96 shekels) (Reporting by Tova Cohen; Editing by David Holmes)