AHL reports nearly threefold surge in profit, reaching Rs509.95mn

MG News | February 03, 2025 at 09:58 AM GMT+05:00

0:00

February 03, 2025 (MLN): Arif Habib Limited (PSX: AHL) has reported a significant increase in profitability, with profit after taxation surging to Rs509.95 million, marking a remarkable 168.57% growth compared to Rs189.88mn in the same period last year.

AHL’s total revenue more than doubled, rising by 118.63% to Rs1.24 billion from Rs567.70mn in December 2023, according to the company’s consolidated (unaudited) financial results.

This growth was driven by a 56.84% increase in operating revenue, which reached Rs807.86mn.

Additionally, the company recorded an extraordinary 733.62% surge in realized gains on the disposal of investments, amounting to Rs433.28mn.

Net unrealized gains on investments also saw a substantial jump, reaching Rs106.39mn, a 746.01% increase from Rs12.58mn in the previous year.

However, administrative and operating expenses rose significantly by 133.21% to Rs819.73mn, reflecting the company’s expanding scale of operations.

Other charges saw an exponential increase of 2409.58%, amounting to Rs46.55mn, while other operating income rose by 183.75% to Rs247.14mn.

AHL also benefited from a sharp decline in finance costs, which dropped by 56.26% to Rs34.91mn.

Despite an increase in levies and taxation, with tax expenses climbing by 536.51% to Rs116.93mn, the company’s profit before taxation stood at Rs626.89mn, reflecting a 201.03% surge from Rs208.25mn in the previous period.

Earnings per share (EPS) also experienced significant growth, rising to Rs7.80 from Rs2.91 in December 2023, further reinforcing AHL’s strong financial standing.

Condensed interim consolidated statement of profit or loss (unaudited) for the half year December 31, 2024 (Rupees)	Dec-24	Dec-23	%Change
Operating revenue	807,856,709	515,073,106	56.84%
Realized gain on disposal of investments	433,284,499	51,976,057	733.62%
Realized gain on sale of investment property	-	649,029
Total Revenue	1,241,141,208	567,698,192	118.63%
Net change in unrealized gain/(loss) on investments	106,386,668	12,575,157	746.01%
Net change in unrealized loss on investment property	-	(749,029)
Administrative and operating expenses	(819,725,056)	(351,496,658)	133.21%
Other charges	(46,551,572)	(1,854,955)	2409.58%
Other operating income	247,142,092	87,098,391	183.75%
Finance costs	(34,905,031)	(79,796,425)	-56.26%
Profit before levies and taxation	693,488,309	233,474,673	197.03%
Levies	(66,603,281)	(25,225,107)	164.04%
Profit before taxation	626,885,028	208,249,566	201.03%
Taxation	(116,931,431)	(18,370,723)	536.51%
Profit after taxation	509,953,597	189,878,843	168.57%
Earnings per share - basic and diluted	7.80	2.91

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