Hub Power Q1 profit doubles

MG News | October 30, 2024 at 11:10 AM GMT+05:00

0:00

October 30, 2024 (MLN): Hub Power Company Limited's (PSX: HUBC) first-quarter profit almost doubled as its revenue and other income rose.

Pakistan’s largest Independent Power Producer (IPP) recorded a net profit of Rs7.79 billion [EPS: Rs6] during the quarter ending September 2024, up 92.4% from Rs4.05bn [EPS: Rs3.12] in the same period last year (SPLY).

Its revenue increased 33.1% to Rs13.11bn as compared to Rs9.85bn in SPLY. Gross profit rose 34.5% to Rs9.35bn in Q1 FY25.

The gross margins improved to 71.3% as compared to 70.6% in SPLY.

During the period under review, other income rose by 521.1% to stand at Rs541.85m in Q1 FY25 as compared to Rs87.24m in SPLY.

The company’s finance cost fell by 32.7% and stood at Rs1.88bn as compared to Rs2.79bn in SPLY.

On a consolidated basis, the company posted a net profit of Rs20.31bn [EPS: Rs14.74], up 10.9% from SPLY.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
	Sep 24	Sep 23	% Change
Sales	13,110,064	9,846,876	33.14%
Cost of sales	(3,757,604)	(2,893,756)	29.85%
Gross Profit/ (loss)	9,352,460	6,953,120	34.51%
Administrative Expenses	-	(195,338)	-
Selling And Distribution Expenses	(217,189)	-	-
Other Income	541,847	87,241	521.09%
Finance Cost	(1,880,245)	(2,792,237)	-32.66%
Profit/ (loss) before taxation	7,796,873	4,052,786	92.38%
Taxation	(11,508)	(5,823)	97.63%
Net profit/ (loss) for the period	7,785,365	4,046,963	92.38%
Basic earnings/ (loss) per share	6.00	3.12	-

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	186,686.80 383.04M	0.88% 1624.69
ALLSHR	111,076.79 883.00M	0.76% 835.35
KSE30	57,531.15 178.01M	0.79% 451.10
KMI30	263,218.64 144.99M	0.97% 2517.49
KMIALLSHR	71,243.81 424.57M	0.82% 579.21
BKTi	54,909.38 67.25M	0.78% 423.83
OGTi	36,252.27 27.06M	1.08% 388.80

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	93,115.00	94,190.00 92,495.00	320.00 0.34%
BRENT CRUDE	60.07	60.40 59.88	-0.63 -1.04%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-0.45 -0.52%
ROTTERDAM COAL MONTHLY	99.50	0.00 0.00	0.85 0.86%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	56.33	57.09 55.76	-0.80 -1.40%
SUGAR #11 WORLD	14.76	14.83 14.62	0.03 0.20%