Karachi: The Hub Power Company Limited (Hubco) announced its financial results for the fiscal year ending June 30, 2026, reporting a varied performance across its unconsolidated and consolidated statements. The company's report, dated September 1, 2026, detailed the impact of strategic operational adjustments and market conditions impacting its financial metrics.
The unconsolidated revenue for the year saw a complete decline from PKR 13,210 million in 2025 to zero in 2026, reflecting a 100% reduction. This significant drop was attributed to the early termination of the Power Purchase Agreement (PPA) last year. However, the consolidated revenue was reported at PKR 71.13 billion, showing a decrease of 15% compared to the previous year’s PKR 83.35 billion.
Gross profit in the unconsolidated accounts was also nonexistent, falling from PKR 9,058 million in 2025 to zero in 2026. In contrast, the consolidated gross profit decreased by 25%, amounting to PKR 29.69 billion from the previous year’s PKR 39.82 billion. The decline was influenced by the early termination of the Hubco PPA and renegotiation of the NEL PPA in fiscal year 2025.
According to information available from the Pakistan Stock Exchange (PSX), dividend income and share of profit from subsidiaries and associated companies provided a significant boost. Unconsolidated figures showed a 97% rise, reaching PKR 29,306 million from PKR 14,914 million, classified as a very large or significant move. On the consolidated front, there was a 10% increase, with profits climbing to PKR 45.32 billion from PKR 41.31 billion.
The net profit attributable to the holding company exhibited positive growth, with unconsolidated figures rising by 28% to PKR 24,467 million, and consolidated profits up by 8%, totaling PKR 49.63 billion. Similarly, earnings per share (EPS) rose by 28% to PKR 18.86 in the unconsolidated segment, while the consolidated EPS increased by 8% to PKR 38.26.
The report highlighted the significant operational contributions from Hubco’s Thar plants, which added 3,646 GWh to the national grid in fiscal year 2026, resulting in foreign exchange savings of approximately USD 90 million. The newly completed TEL and TN projects declared and disbursed their inaugural dividends, while CPHGC's 1,320MW imported coal-based power plant maintained its contractual availability and distributed substantial dividends to shareholders.
The company attributed its improved financial outcomes partly to decreased finance costs due to debt repayments and lower interest rates, which positively affected both unconsolidated and consolidated earnings. The fiscal adjustments and strategic decisions reflect Hubco’s ongoing adaptation to the evolving power market landscape.