Hub Power Company Limited profits fall by 2.57 percent to Rs. 6.128 billion

Hub Power Company Limited (HUBCO) today announced financial results for the nine months period ending 31 March, 2018 reporting Sales at Rs. 57.253 billion; down 1.0 percent from same period last year. Furthermore, the company’s Gross Profit rose to Rs. 7.482 billion from Rs. 7.051 billion last year during the outgoing nine months.

On the expenses front, HUBCO reported 86.4 percent decrease in General and Administrative Expenses, 14.49 percent decrease in Other Operating Expenses, whereas, Finance Costs incurred by the company went up by 18.76 percent during the period.

Furthermore, HUBCO also reported a 14.63 percent decline in Other Income reaching Rs. 1.025 billion during the nine months.

Hub Power Company Limited reported profit after taxation at Rs. 6.128 billion against Rs. 7.634 billion during the same period last year translating into an EPS of Rs. 5.30 vs. an EPS of Rs. 6.60 during the nine months ending March, 2017. 

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Nine Months Ended, March 30th 2018

Key Financials

March, 2018

March, 2017

% Change

 

Amounts in PKR’ 000

Continuing Operations

 

 

 

Turnover

57,253,301

57,829,907

-1.00%

Operating Costs

49,771,033

50,778,150

-1.98%

Gross Profits

7,482,268

7,051,757

6.11%

General and Administration Expenses

64,456

474,102

-86.40%

Other Income

1,025,190

1,200,822

-14.63%

Other Operating Expenses

50,065

58,547

-14.49%

Profit from Operations

7,812,837

7,719,930

1.20%

Finance Costs

1,609,162

1,354,969

18.76%

Profit before Taxation

6,203,675

6,364,961

-2.53%

Taxation

74,953

74,320

0.85%

Profit after Taxation from Continuing Operations

6,128,722

6,290,641

-2.57%

Discontinued Operations

 

 

 

Profit after Taxation from Discontinued Operations

1,343,980

 

Cumulative Profit Continuing and Discontinued Operations

6,128,722

7,634,621

-19.72%

EPS – Basic and diluted

5.30

6.60

-19.70%

EPS – Continuing Operations

5.30

5.44

-2.57%

EPS – Discontinued Operations

1.16

 

Company release on Earnings Report can be accessed here.

Posted on: 2018-04-26T12:11:00+05:00