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HUBCO’s profits inch up by 2% at Rs 5.6 billion

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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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Posted on: 2019-02-21T12:50:00+05:00

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