Arif Habib Corporation Ltd. profits fall 99% to Rs. 17.281 million

MG News | February 26, 2018 at 01:49 PM GMT+05:00

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Arif Habib Corporation today announced financial results for the half year ending December 31^st, 2018. The company release revealed a 90% drop in Revenue coupled with a more than 99% drop in bottom-line profits.

In the releases addressed to the Exchange, Arif Habib Corporation reported profits at Rupees 17.281 million during the period between July – December, 2017 against Rupees 2.124 billion during the same period last year. Company’s other income also fell by more than 99% reaching 2.543 million against 389 million during the second half of year 2016.

The company reported an EPS of Rs. 0.04 vs. an EPS of Rs. 4.68 during half year ending December, 2016.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Half Year Ended, December 2017
Key Financials	2017	2016	% Change
	Amounts in PKR
Operating Revenue	226,558,257	2,211,399,814	-89.75%
Operating and Administration Expenses	53,616,553	57,286,435	-6.41%
Finance Costs	74,059,336	102,693,718	-27.88%
Other Charges	1,379,052	3,837,390	-64.06%
Other Income	2,543,399	389,121,498	-99.35%
Profit/(Loss) before Tax	100,046,715	2,436,703,769	-95.89%
Taxation	82,765,589	312,564,435	-73.52%
Profit/(Loss) after Tax	17,281,126	2,124,139,334	-99.19%
Earnings/(Loss) per share - Basic and Diluted	0.04	4.68	-99.15%

Company release on Earnings Report can be accessed here.

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