Hubco’s profit jumps 47% in Jul-Dec 2020
Surge comes on back of rupee depreciation, drop in finance cost
PHOTO: HUBCO
KARACHI:
Hub Power Company’s (Hubco) consolidated profit increased 47% to Rs16.88 billion in the first half ended December 31, 2020 mainly due to surge in profit from an associate company, rupee depreciation and significant cut in cost of finance, according to a bourse filing on Friday.
“The increase in profit is mainly due to higher share of profit from associate, China Power Hub Generation Company Limited (CPHGC), which started commercial operations on August 17, 2019, depreciation of rupee against dollar and lower financing costs,” Hubco said in a report to Pakistan Stock Exchange (PSX).