Arif Habib Ltd shows remarkable recovery as its profit amounts to Rs71.2 million
MG News | January 28, 2019 at 10:52 AM GMT+05:00
January 28, 2019 (MLN): Arif Habib Limited (AHL) has reported a profit of Rs 71.2 million for the six months ended December 2018, showing a remarkable recovery after incurring losses in the same period last year on account of significant decline in company’s unrealized loss in re-measurement of investments.
On the whole, the company’s expenses rose fairly. While non-core income and capital gains declined but the company managed to make profits due to 51% decline in unrealized loss in re-measurement of investments
The company reported its Earnings per share at Rs.1, for the half year ended December 31, 2018.
| Profit and Loss account for the half year ended December 2018 (Rupees) | |||
|---|---|---|---|
|
| 31-Dec-18 | 31-Dec-17 | % change |
| Operating revenue | 254,883,926 | 291,387,960 | -13% |
| Capital gain on sale of short term investments | 110,881,820 | 111,931,561 | -1% |
| Unrealized gain on re-measurement of investment property | 241,698,360 | 344,580,000 | -30% |
| Unrealized loss on re-measurement of investments | (314,139,218) | (639,472,756) | -51% |
|
| 293,324,888 | 108,426,765 | 171% |
| Administrative and operating expenses | (167,373,791) | (145,997,139) | 15% |
| Finance costs | (72,736,689) | (89,981,959) | -19% |
| Other operating income | 51,254,410 | 91,875,895 | -44% |
| Profit / (loss) before taxation | 104,468,818 | (35,676,438) |
|
| Taxation | (33,244,420) | (28,316,230) | 17% |
| Profit / (loss) after taxation | 71.224.397 | (63,992,668) |
|
| Basic and diluted earnings / (loss) per share (Rs. per share) | 1 | (1) |
|
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