HUBCO’s net profit remains flat at Rs8.67b

KARACHI: The Hub Power Company Limited’s (HUBCO) consolidated net profit remained almost flat at Rs8.67 billion in  the first nine-month of fiscal year 2015-16 ended March 31, due to lower sales proceeds and higher expenses and losses from associated firm, according to a bourse filing on Thursday.

The company’s net profit dropped 3% in the period under review from Rs8.96 billion in the same period last year. This translated into earnings per share at Rs7.21 compared to Rs7.22 in the corresponding period, it said in a notification to the Pakistan Stock Exchange (PSX).

The HUBCO Board of directors (BoD) also recommended an interim cash dividend at Rs3.5/share. The Company has previously paid interim dividend at Rs4.5/share.

The share price of the power company increased 3.21% to Rs109.31 at PSX on Thursday. 

Published in The Express Tribune, April 29^th,  2016.

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