Performance Tuning :: Elapsed Time In Trace File Output

I executed a query which executed quickly (1.7 seconds) but since its output took time in displaying on the console the time shown by 'set timing on was 39.5 seconds

also I took trace (tkprof) for the same.My query is why the timings under 'Total Waited' (43.19 and 1.69) are not added to the elapsed time 1.83 seconds

call count cpu elapsed disk query current rows
------- ------ -------- ---------- ---------- ---------- ---------- ----------
Parse 1 0.00 0.00 0 0 0 0
Execute 1 0.00 0.06 0 10 0 0
Fetch 758 0.03 1.77 0 0 0 11345
------- ------ -------- ---------- ---------- ---------- ---------- ----------
total 760 0.03 1.83 0 10 0 11345
[code]....