Business
May 1, 2021
KARACHI: Hub Power Company (Hubco) has announced a net profit of Rs8.8 billion for the quarter ended March 31, 2021, up 20.54 percent from net profit of Rs7.38 billion recorded in the same period last year.
The earnings per share (EPS) for the quarter clocked in at Rs6.61 against EPS of Rs5.55 last year. The company did not announce any payout along with the corporate results.
“The increase in profit is mainly due to higher share of profit from an associate (China Power Hub Generation Company Limited, which started commercial operations on August 17, 2019), depreciation of rupee against USD and lower financing costs,” company noted.