HUBCO's profits inch up by 2% at Rs 5.6 billion
MG News | February 21, 2019 at 12:50 PM GMT+05:00
February 21, 2019 (MLN): Hub Power Company Limited has announced consolidated profits of Rs. 5.6 billion for the half year period ended December 31, 2018, which is 2.14% higher than the earnings of corresponding period last year.
The EPS of the company stood at Rs. 4.67, i.e. 1.97 higher than the EPS of same period last year.
The reason for a meager change in the company’s profitability was attributed to almost equal change in the topline earnings and cost of sales, as they both declined by approximately Rs. 23 billion.
| Consolidated Profit and loss account for the half year ended December 31 2018 (Rupees'000) | |||
|---|---|---|---|
|
| Dec-18 | Dec-17 | % Change |
| Turnover | 30,941,958 | 54,291,096 | -43.01% |
| Operating costs | -21,531,094 | -45,524,782 | -52.70% |
| GROSS PROFIT | 9,410,864 | 8766314 | 7.35% |
| General and administration expenses | -675,629 | -788,431 | -14.31% |
| Other income | 230,190 | 80,136 | 187.25% |
| Other operating expenses | -11,067 | -39,780 | -72.18% |
| PROFIT FROM OPERATIONS | 8,954,358 | 8,018,239 | 11.67% |
| Finance costs | -2,935,597 | -2,155,644 | 36.18% |
| Share of loss from associates | -193,455 | -106,799 | 81.14% |
| PROFIT BEFORE TAXATION | 5,825,306 | 5,755,796 | 1.21% |
| Taxation | -144,589 | -194,242 | -25.56% |
| PROFIT FOR THE PERIOD | 5,680,717 | 5,561,554 | 2.14% |
| Basic and diluted earnings per share | 4.67 | 4.58 | 1.97% |
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