<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">HUBC – 2QFY25E earnings to clock in at PkR9.0/sh: We expect Hub Power Company Ltd
(HUBC) to post NPAT of PkR11.8bn (EPS: 9.07/sh) for 2QFY25, down 23%YoY/39%QoQ.
The decline is primarily attributed to the termination of PPA for the base plant, effective
October 1, 2024, leading to a lower topline of PkR17.2bn (down 43%YoY/46%QoQ). Notably, power offtakes from the company’s RFO and imported coal-based generators remain subdued during the quarter, while indigenous coal IPPs remained active throughout, benefiting from a higher ranking in NTDC’s merit order. On the non-operating front,
share of profit from associates is expected to clock in at PkR10.7bn for the period (up
1%YoY). We do not anticipate the company to announce a cash di...
