Arif Habib Corporation today announced financial results for the half year ending December 31st, 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.