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HUBC registers robust growth on CPHGC project and PKR devaluation

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February 25, 2020 (MLN): One of the largest Independent Power Producer pf Pakistan, Hub Power Company Ltd. (HUBC) has announced its financial results for the half-year ended December 31, 2020. As per results, the company has witnessed a robust growth of 102.23% in its net profits, standing at Rs 11.51 billion which translated into an EPS of Rs 8.52.

The rise in HUBC’s consolidated earnings was mainly attributable to the commencement of China Power Hub Generation Company (CPHGC) and PKR depreciation against USD.

During the period under review, the company’s turnover dipped by 20.62% YoY compared to sales in the corresponding period last year on the back of lower off-take from Hub pant and Narowal Plant as both plants remained shut down from Oct 19 to Nov 19.

HUBC’s gross margins were impressive as it expanded from 30% to 59% on an account of growing PCE Element in the capacity payments of Hub plant during the last quarter.

More notably, the share of profit of associate clocked in at Rs 5.15 billion against the loss of Rs 193 million due to rising earnings from CPHGC.

On the other hand, the company bore a colossal increase in finance cost which stood at Rs 6.25 billion, up by 2.12 times YoY owing to higher interest rate and markup on long term loans acquired to finance new projects.


Profit and Loss Account for the Half-year Ended December 31st 2019 (Rupees in '000)




% Change





Operating costs




Gross Profit




General and administration expenses




Other income




Other operating expenses




Profit from operations




Finance costs




Share of gain/loss from associates



Loss on shares to be transferred to GoB



Profit before taxation








Profit for the year




Basic and diluted earnings per share – in Rupees





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Posted on: 2020-02-25T12:20:00+05:00