Hub Power Company Limited profits fall by 2.57 percent to Rs. 6.128 billion
MG News | April 26, 2018 at 12:11 PM GMT+05:00
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.
| 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.
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