HUBCO posts 15.28pc decline in profits

KARACHI: Hub Power Company Limited (HUBCO) has announced a net profit of Rs2.55 billion for the quarter ended December 31, 2018, which is 15.28 percent lower than the profit of Rs3.012 billion recorded in the corresponding period last year.

The earnings per share (EPS) for the period under review clocked in at Rs2.11, as against EPS of Rs2.52 in the same period previous year. The company did not announce any payouts along with the corporate announcement.

HUBCO’s net revenues for the quarter ended December 31, 2018 stood at Rs12.99 billion, 51.6 percent lower than the revenue of Rs26.95 billion posted in the quarter ended December 31, 2017.

For the six-month period ended December 31, 2018, HUBCO posted a net profit of Rs5.68 billion translating into EPS of Rs4.67 compared with the profit of Rs5.56 billion and EPS of Rs4.58 in the corresponding period previous year.

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