KARACHI: The Hub Power Company Ltd posted a net profit of Rs57.6 billion for 2022-23, up 102 per cent from a year ago, the independent power producer told investors on Tuesday.

The rise in its earnings was mainly because of a 3.7 times year-on-year increase in the share of profit from associate and joint-venture firms and the addition of Thar Energy Ltd, said Arif Habib Ltd.

In the April-June quarter, the company posted a net profit of Rs23.9bn, up 241pc. It also announced a cash dividend of Rs6 per share .

Published in Dawn, September 13th, 2023