HUBCO has recorded net profit of Rs34.83 billion in the fiscal year 2020-21. This is an increase of 33,65% from the previous years.
The increase in earnings seen in the financial results below is a result of lower finance cost, profits from its associate – China Power Hub Generation Company (CPHGC) and PKR depreciation.
During the period under review, the turnover of the company surge by 13% YoY owing to higher load factor and increase in EPP component. While the gross margins of the company fell from 63% to 60% on an account of higher operating cost.
Meanwhile, the company gained profits of Rs15.50bn from associates CPHGC owing to PKR depreciation.
Amid lower interest rate regime, the finance cost of the company dropped by 38.34% to stand at Rs7.34bn in FY21.
In addition, the company has also a cash dividend of Rs 5 per share in addition to interim dividend of Rs7 per share. This takes full year dividend to Rs12 per share.
