HUBCO’s profits grow on account of decline in operating costs

Profit and Loss Account for the 1st Quarter Ended September 30th 2018 (Rupees in '000)

Turnover

                     17,945,907

                     27,339,933

-34.36%

Operating costs

                  (13,108,304)

                  (23,162,135)

-43.41%

Gross Profit

                       4,837,603

                       4,177,798

15.79%

General and administration expenses

                        (313,505)

                        (437,534)

-28.35%

Other income

                             50,931

                             33,798

50.69%

Other operating expenses

                             (1,082)

                           (41,705)

-97.41%

Profit from operations

                       4,573,947

                       3,732,357

22.55%

Finance costs

                     (1,322,454)

                     (1,017,018)

30.03%

Gain on dilution of interest in associates - net

                                      -  

                                      -  

Share of loss from associates

                           (60,759)

                           (44,626)

36.15%

Profit before taxation

                       3,190,734

                       2,670,713

19.47%

Taxation

                           (66,715)

                        (122,120)

-45.37%

Profit for the year

                       3,124,019

                       2,548,593

22.58%

Basic and diluted earnings per share - in Rupees

                                  2.56

                                  2.06

24.27%