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

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.

Posted on: 2018-02-26T13:49:00+05:00