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Hubco posts Rs 11 million increment in profit

KARACHI (October 24 2002) : Hub Power Company profit in three months up to September 30, 2002, has shown an increment of Rs 11 million, to Rs 1.474 billion, compared with the profit in same period a year ago.

The company held a meeting on Wednesday and, through an announcement at the Karachi Stock Exchange, said that the earning per share amounted to Rs 1.27 in three months up to September 30, 2002, as compared with Rs 1.26 in the same period a year ago.

The turnover of the company amounted to Rs 3.878 billion as compared with Rs 4.713 billion of the previous year.

The company in which Britain's International Power has a stake of about 26 percent, runs a 1,292 megawatt thermal power house and carries 8.32 percent weightage in the KSE-100 index.

The company in the year up to June 30, 2002 had registered a profit of Rs 7.29 billion as compared with Rs 10.86 billion, showing a decline of 33 percent. However, the company paid a handsome dividend of 76 percent in the year ended June 30, 2002, compared with 39 percent paid in the preceding year.

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