KARACHI: Hub Power Company Limited (HUBCO) has announced its 3QFY19 ended March 31, 2019 financial results wherein the company posted consolidated profit after tax of PKR 3.33 billion translating into earning per share (EPS) of PKR 2.73 versus profit of PKR 3.08 billion and EPS of PKR 2.58 posted in the corresponding quarter of last year, depicting an increase of 8% YoY in company’s net earnings.[the_ad id=”31605″]Consequently in 9MFY19, HUBCO reported net earnings of PKR 9.00 billion (EPS PKR 7.41), up by a slender 4% YoY.
With significant financing requirement for upcoming projects, Hub Power Company Limited (HUBCO) again skipped cash payout for the quarter.
Gross profits of the company rose by a notable 30% YoY to PKR 5.99 billion in 3QFY19 compared to PKR 4.62 billion in the same quarter last year.
However, finance cost surged by a hefty 83% YoY during the quarter, thereby restricting accretion in profits.