Karachi: Arif Habib Limited (AHL), one of the leading brokerage and investment banking firms in Pakistan, announced a record-breaking financial performance for the fiscal year ending June 30, 2026, amid a broadly stable economic environment. According to the company's annual report released on September 4, 2026, AHL achieved its highest-ever revenue from core operations, driven by strong business momentum and growth across its key activities.
The Pakistani economy exhibited resilience during FY26, with a Gross Domestic Product (GDP) growth of 3.7% year-on-year, alongside a significant expansion in Large Scale Manufacturing (LSM) by 5.8% over the first eleven months of the fiscal year. Car sales rose by 39% year-on-year to 206,345 units, while cement dispatches increased by 8% to 50,581 thousand tons. Bank deposits also grew by 15% to PKR 40,886 billion. The economic landscape was further supported by a 17% rise in urea offtake to 6,889 thousand tons and a 4% increase in oil production to 23.6 million barrels.
On the external front, Pakistan's current account recorded a modest deficit of USD 139 million, largely due to an 8% year-on-year rise in imports. Exports remained steady, with services exports achieving a robust growth of 19% to USD 10,034 million. Remittances also rose by 9% to USD 41,585 million. The Pakistani rupee demonstrated stability, closing the fiscal year at PKR 279.0 per USD.
AHL reported an unconsolidated profit after tax of PKR 1,177 million, translating to earnings per share (EPS) of PKR 18.01. The consolidated profit after tax was noted at PKR 1,180 million, with an EPS of PKR 18.06. The company's operating revenue from brokerage, investment banking, and advisory services reached PKR 2,084 million, marking a 45.69% increase from the previous fiscal year. This growth was primarily driven by the expansion of AHL's digital and retail client base and successful execution of advisory mandates, including IPOs and equity capital market transactions.
According to information available from the Pakistan Stock Exchange (PSX), the KSE-100 Index delivered a significant performance, surging by 43.5% in PKR terms and 46.4% in USD terms, closing at 180,302 points. This rally was largely attributed to improved corporate earnings, stronger macroeconomic indicators, and enhanced investor participation. The average daily trading volume increased by 44.1% year-on-year to 912 million shares, with the average traded value climbing 50.8% year-on-year to USD 151.95 million.
The IPO market gained traction, with PSX approving 13 IPOs and listing 11 of them, raising approximately PKR 20 billion. Foreign investors were net sellers of USD 851 million, while local companies and individuals were net buyers.
AHL's brokerage division recorded a 40.46% year-on-year increase in revenue, reaching PKR 1,634 million. The company's financial performance reflects disciplined investment decisions and effective portfolio management, with gains of PKR 1,206 million from fixed income, equities, and cash-futures arbitrage.
The State Bank of Pakistan maintained a measured policy stance, closing FY26 with an interest rate of 11.5%. The fiscal year's budget focused on fiscal discipline while providing relief to the salaried class and mid-sized companies.
Looking ahead, AHL remains committed to strengthening its core businesses, expanding its client franchise, and creating sustainable long-term value. The company's strategic investments in technology and human capital are aimed at enhancing service quality and supporting future growth.