KARACHI: Compare Rs 5.57 Billion to Rs 5.37 Bn and the difference will tell the story of the drop in the Hubco’s profit decline.Hub Power Company Limited’s consolidated net profit dropped almost 4% to Rs5.37 billion in the half-year ended December 31, 2016 due to lower sale of electricity, according to a bourse filing Monday.
The company had booked a profit of Rs5.57 billion in the same half of the previous year, the company reported to the Pakistan Stock Exchange.
Earnings per share slipped to Rs4.38 from Rs4.59 in the corresponding period.
Board of directors recommended an interim cash dividend at Rs1.50 per share. This will be paid to the shareholders whose name will appear in the register of members on April 6, 2017. The entitlement is in addition to the previous interim dividend already paid at Rs1.50 per share.
Hubco’s share price fell 2.03% or Rs2.78 and closed at Rs133.75 with a volume of 638,800 shares at the Exchange.
According to the profit and loss accounts of the company, turnover (sales) also decreased 4% to Rs48.22 billion in the half from Rs50.28 billion in the corresponding period
