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

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

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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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