Earnings Report /
Pakistan

Hub Power: 1QFY22 review – Lower penal income and one-offs lead to earnings miss

  • HUBC has reported 1QFY22 consolidated EPS of PKR5.72, lower by 9% yoy and a sharp 15% qoq.

  • We suspect the difference stems from lower penal income and significantly lower profits from CPHGC.

  • We maintain our liking for HUBC with a TP of PKR125/sh.

Yusra Beg
Yusra Beg

Senior Investment Analyst

Intermarket Securities
29 October 2021