Hub Power Company Ltd. profits fall 1.69% to Rs. 4.128 billion

MG News | February 19, 2018 at 12:48 PM GMT+05:00

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Hub Power Company profits totaled at 4.128 billion during the half year ending December 2017 according to the financial statements released by the company at the Exchange.

Hubco profits fell by 1.69% during the half year against the same period last year when total profits for the company from the discontinued and continuing operations clocked in at Rs. 4.199 billion. Company’s Turnover increased by 16.12% to 38.428 billion against last year’s tally of 33.851 billion.

Also, company’s gross margins increased by 3.71%, in tandem with 16.2% rise in Operating Costs.

At the board meeting held today in Karachi, Hub Power Board of Directors recommended an interim cash dividend for the half year ending December, 31 2017 a Rs. 1.50/- share i.e. 15%. This dividend is in addition to the interim dividend already paid at Rs. 1.5 per share i.e. 15%.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Half Year Ended, December 31^st 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Continuing Operations
Turnover	43,362,135	37,851,884	14.56%
Operating Costs	38,428,186	33,094,574	16.12%
Gross Profits	4,933,949	4,757,310	3.71%
General and Administration Expenses	458,737	320,473	43.14%
Other Income	816,795	25,487	3104.75%
Other Operating Expenses	39,780	-
Profit from Operations	5,252,227	4,462,324	17.70%
Finance Costs	1,054,003	894,089	17.89%
Profit before Taxation	4,198,224	3,568,235	17.66%
Taxation	69,538	-
Profit after Taxation from Continuing Operations	4,128,686	3,568,235	15.71%
Discontinued Operations
Profit after Taxation from discontinued Operations	-	631,376
Profit for the period from Continuing Operations	4,128,686	4,199,611	-1.69%
EPS - Basic and diluted
Continuing Operations	3.57	3.08	15.91%
Discontinued Operations	-	0.55

Company release on Earnings Report can be accessed here.

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