Hub Power Company’s profit falls to over Rs38bn, down 29% YoY
MG News | April 29, 2025 at 11:54 AM GMT+05:00
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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