Hubco earnings up by 58 percent

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KARACHI: The Hub Power Company (Hubco) posted earnings of Rs4.7 billion (earnings per share of Rs4.1) during the first-half of the financial year, up by 58 percent on year-on-year basis as compared to the earnings of Rs3 billion (earnings per share of Rs2.6) in the same period last fiscal year.

Improved earnings are primarily attributable to revised Narowal tariff. Moreover, likely generation bonus, as well as higher indexation factor due to the rupee depreciation against the dollar also contributed positively to the earnings. “We currently have a ‘buy’ stance on Hubco, with a target price of Rs52,” a report of JS Global said.

Courtesy: The News

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