Stocks Observer. com

The Hub Power Company Limited (HUBCO) has posted Rs 2.965 billion net profit in the first nine months of current fiscal compared to Rs 1.991 billion in the same period last fiscal, reflecting around 49 percent growth. The company’s earnings per share (EPS) rose to Rs 2.56 during period under review over Rs 1.72 in the corresponding period last year. Analysts attributed the increase in the profit to higher electricity generation in the calendar year 2008 resulting in a generation bonus. Besides production bonus, interest income on overdue amount from WAPDA is likely to boost bottom-line of the company. Turnover totaled at Rs 67.335 billion in July-March 2008-09 against Rs 42.751 billion in the same period last fiscal. Operating costs also jumped to Rs 62.533 billion in the said period over Rs 39.219 billion in the previous year. HUBCO operates an oil-fired power station with a net capacity of 1,200 MW located in Hub River estuary in Balochistan and also carries out the business of power