AHL Posts Record Profit Rs 2.084 Bln

KARACHI, (UrduPoint / Pakistan Point News - 2nd Aug, 2021 ) :Arif Habib Limited on Monday posted profit of Rs 2.084 billion, the highest-ever profit in its history during the current fiscal year.

The board of Directors also declared final cash dividend of Rs 10 per share i.e. 100% and bonus 10% ( 10 shares for every 100 shares held) for the year 2021.

AHL's financial results for the year ending June 30, 2021, announced on Monday said the company had also recorded its highest- ever revenues in history in the brokerage, investment banking and money markets division-- all combined had taken up AHL's core income by Rs 1,398 million.

The brokerage division witnessed an increase of 132% in revenue against the same period in the previous year. Investment banking's income increased massively by 633% from Rs 155 million to Rs 672 million.

This increase was attributable to successful completion of equity and debt initial public offerings (IPOs).

The company's investment portfolio had yielded healthy realized and unrealized revenue of Rs 1,681 million against Rs 228 million in the corresponding period.

Commenting on the results, Chief Executive Officer of AHL, Shahid Ali Habib said the growth momentum was outstanding and in line with our expectations.

The phenomenal increase in revenue had been due to stellar performance by all business divisions and high volumes in the market.

" We foresee similar brokerage and investment banking performance in coming year as the economy grows and focus on capital market development intensifies," he added.

AHL, which led eight of the ten IPOs this year, had embarked upon expanding its footprint by establishing presence in other cities and increasing its client base both within Pakistan and abroad, which was expected to reap dividends by its shareholders in the future.

AHL was pioneering the efforts of opening Roshan Digital Accounts (RDA) for Overseas Pakistanis that was bound to help Pakistan increase foreign investment flows and had maintained an average of 35% of market share since RDA's introduction in September 2020.