HUBC to announce its 1QFY23 financial result on Oct 27th, 2022

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

Posted in Energy News.

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