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

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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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