Karachi: The Hub Power Company Limited has announced its financial results for the first quarter ending on September 30, 2026, indicating substantial growth in both consolidated and unconsolidated net profits. The company attributed its earnings increase to higher profits from joint ventures and a boost in income from short-term money market investments.
The company's consolidated net profit for the period reached Rs. 12,786 million, translating to an Earnings Per Share (EPS) of Rs. 9.86. This marks an increase from the previous year's net profit of Rs. 11,628 million and an EPS of Rs. 8.96. The growth is attributed primarily to increased profits from associates, joint ventures, and reduced finance costs.
On an unconsolidated basis, the net profit rose to Rs. 8,118 million, with an EPS of Rs. 6.26, compared to last year's net profit of Rs. 7,894 million and an EPS of Rs. 6.09. This rise is primarily due to enhanced dividend income from subsidiaries and improved income from short-term investments.
Operationally, the company's thermal power plants, including CPHGC, TEL, TN, and Narowal, maintained elevated generation levels amidst RLNG supply challenges exacerbated by the Gulf War scenario. Meanwhile, Laraib's power output improved compared to the previous year, when flood conditions adversely affected production.
The energy and petroleum sector witnessed notable progress with the recommissioning of the Lundali-1 well in the Sukhpur-II block, delivering gas to Sui Southern Gas Company Limited (SSGCL) by September 6, 2026. Geological and geophysical activities continue in various blocks, as the company strengthens its operational capabilities.
According to information available from the Pakistan Stock Exchange (PSX), Hub Power Company is making significant strides in growth projects. MMCPL is advancing its portfolio with cutting-edge vehicles, including three SUVs and Pakistan's first NEV (PHEV) D-segment pickup truck. The company anticipates completing its local CKD assembly plant by year-end.
HUBCO's subsidiary, HUBCO Green (Private) Limited (HGL), is expanding its network of 24 DC fast chargers to penetrate Tier II cities and national highways, supporting the growing NEV population in Pakistan. The launch of a mobile application aims to enhance customer convenience with features such as trip planning and live charging status monitoring.
The consortium led by Hub Power Holdings Limited, featuring Lucky Cement Limited, Kohat Cement Company Limited, and Metro Ventures (Private) Limited, has prequalified for the privatization process of FESCO and GEPCO. The prequalification for IESCO is pending. The consortium is conducting comprehensive due diligence to assess strategic synergies.
The Hub Power Company remains committed to its growth and diversification strategy, exploring large-scale infrastructure projects and evaluating privatization opportunities. The company acknowledges the support of its shareholders and stakeholders in its ongoing journey towards growth and value creation.