HUBC to announce its 2QFY23 financial result on Feb 16th, 2023,

The Hub Power Company Limited (HUBC) is scheduled to announce its 2QFY23 financial result on Feb 16th, 2023. We forecast the company to post a consolidated profit after tax of PKR 12,097mn (EPS: PKR 9.33) in 2QFY23 compared to PKR 4,796mn (EPS: PKR 3.70) during 2QFY22. This will take 1HFY23 earnings to PKR 21,196mn (EPS: PKR 16.34), +74% YoY. The rise in earnings is expected due to 26% PKR depreciation, addition of TEL and absence of impairment loss which CPHGC booked during 2QFY22.

Moreover, during 2QFY23, we expect the CPHGC to book a reversal of aforementioned impairment loss of PKR 1,990mn. Sales are expected to come down by 18% YoY I 45% QoQ in 2QFY23 on the back of zero dispatches from Hub base plant, however TEL has added during 2QFY23. Other income is expected to increase by 65% YoY due to the higher O&M income of HPSL. Finance cost is projected to settle at PKR 3,249mn in the out-going quarter (+87% YoY) due to higher interest rates. Share of profit is expected to clock-in at PKR 6,034mn against loss of PKR 1,462mn during 2QFY22.

We do not expect any payout along with the result.

Courtesy – AHL Research

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