Hub Power Company’s profit falls to over Rs38bn, down 29% YoY

MG News | April 29, 2025 at 11:54 AM GMT+05:00

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April 29, 2025 (MLN): Hub Power Company Limited (PSX: HUBC) reported a significant decline of 29.31% in its profitability for the nine months ended March 31, 2025, with net profit after tax dropping to Rs38.15 billion (EPS: Rs26.4) compared to Rs53.97bn (EPS: Rs38.2) in the same period last year.

Revenue from contracts with customers decreased by 32.31% year-on-year, totaling Rs64.6bn, largely due to a drop in sales.

The cost of revenue also declined by 27.15% to Rs33.19bn, resulting in a gross profit of Rs31.41bn, reflecting a 37.03% decrease.

General and administrative expenses decreased by 18.56% to Rs1.31bn, while other operating expenses surged significantly by 896.42% to Rs3.6bn, putting pressure on the company’s profitability.

On the positive side, other income saw a sharp increase of 101.54% to Rs3.95bn, supporting the bottom line.

Finance costs declined by 39.68% year-on-year, standing at Rs12.45bn, reflecting a reduction in borrowing costs.

The share of profit from associates and joint ventures decreased by 12.52% to Rs30.36bn.

As a result, profit before taxation from continuing operations decreased by 24.45% to Rs48.34bn.

Taxation expenses declined slightly by 6.45% to Rs9.37bn.

Consolidated Statement of Profit and Loss For The Nine Month Ended March 31, 2025 (Rupees '000)
Category	Mar-25	Mar-24	%Change
Revenue from Contract with Customers - Net	64,596,070	95,434,269	-32.31%
Cost of Revenue	(33,188,709)	(45,556,248)	-27.15%
Gross Profit	31,407,361	49,878,021	-37.03%
General and Administration Expenses	(1,312,980)	(1,612,144)	-18.56%
Other Income	3,948,505	1,959,153	101.54%
Insurance Claim Against Alternator Damage & Revenue Loss	-	60,952
Other Operating Expenses	(3,604,745)	(361,769)	896.42%
Profit from Operations	30,438,141	49,924,213	-39.03%
Finance Costs	(12,452,790)	(20,643,004)	-39.68%
Share of Profit from Associates and Joint Venture - Net	30,357,343	34,703,477	-12.52%
Profit Before Taxation from Continuing Operations	48,342,694	63,984,686	-24.45%
Taxation	(9,369,180)	(10,014,954)	-6.45%
Loss for the Period from Discontinued Operations	(823,850)	-
Net Profit for the Period	38,149,664	53,969,732	-29.31%
Attributable to:
- Owners of the Holding Company	34,248,623	49,546,683	-30.88%
- Non-Controlling Interest	3,901,041	4,423,049	-11.80%
Net Profit for the Period	38,149,664	53,969,732	-29.31%
Basic and Diluted Earnings Per Share (Rupees)	26.4	38.2	-30.89%

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