Corporate results: Hubco’s profit increases 11% due to higher furnace oil prices

Hub Power Company’s (Hubco) consolidated profit increased 11% to Rs3.01 billion in the quarter ended December 31, 2017 mainly due to higher turnover, according to a notice sent to the Pakistan Stock Exchange (PSX) on Monday.

Securities brokerage houses commented that the independent power producer generated comparatively low electricity at all the three production units under its management, but managed to post higher turnover and profit due to higher furnace oil prices and reduction in rupee’s value compared to the US dollar.

Published in the Express Tribune, 20th February, 2018