The Hub Power Company Ltd (Hubco) has registered a decline of 61 percent in the net profit during the third quarter ended on March 31. The net profit of Hubco stood at Rs 793 million as compared to Rs 1,276 million in the corresponding period of the last year.
According to un-audited financial results of the company issued here on Wednesday, the decline in profit was due to reduction in tariff after the full repayment of senior debt in July 2005.
The earnings per share (EPS) stood at Rs 0.69 as compared to the EPS of Rs 1.10 in the corresponding period of the last year. The turnover for the quarter stood at Rs 6,360 million and operating cost stood at Rs 5,198 million.