AHL’s first-quarter profit surges 497pc to Rs739m

The Board of Directors of Arif Habib Ltd on Thursday announced the company’s financial results for the first quarter ended September 30, 2020.

During the period under review, the company performed exceptionally well and achieved strong profitability. A strong rebound in the KSE-100 Index prompted by substantial reduction in monetary policy rate and partial economic turnaround has helped AHL post highest ever quarterly profits during this quarter.

The company has posted an after-tax-profit of Rs739 million, which is 497pc higher than the corresponding period last year and translates into earnings per share of Rs12.44.

AHL has embarked upon expanding its footprint by establishing presence in other cities and increasing its client base both within Pakistan and abroad, which is expected to reap dividends by its shareholders in the future. The company is pioneering the efforts of opening Roshan Digital Accounts for overseas Pakistanis that is bound to help Pakistan increase foreign investment flows.

The board recognized the outstanding performance of management team and appreciated the confidence reposed by AHL shareholders in the company. It also thanked all the stakeholders, especially SECP and PSX, for providing a conducive and enabling environment for market participants.

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