The Hub Power Company Limited (HUBC) is scheduled to announce its 1QFY23 financial result on Oct 27th, 2022. We forecast the company to post a consolidated profit after tax of PKR 9,323mn (EPS: PKR 7.19) in 1QFY23 compared to PKR 7,417mn (EPS: PKR 5.72) during 1QFY22.

Sales are forecast to come down by 5% YoY I 22% QoQ in 1QFY23 on the back of lower dispatches, which are expected to decline by 49% YoY I 38% QoQ to 455 GWh. Load factors of the Hub Plant is expected to remain at 8% compared to 20% during 1QFY22.

Other income is expected to increase by 131% YoY due to the higher O&M income of HPSL. Finance cost is projected to settle at PKR 2,659mn in the quarter (+60% YoY) due to higher interest rates. Share of profit is expected to clock-in at PKR 6,550mn, up by 186% YoY due to the reversal of impairment loss of PKR 1,990mn recorded by CPHGC during 2QFY22.

Courtesy – AHL Research