daily check
· We expect Hub Power Company Ltd (HUBC) to post NPAT of PkR10.7bn (EPS: PkR8.25) for 3QFY25, down 38%YoY · HUBC is anticipated to record its lowest consolidated topline in four years, expected to clock in at PkR14.3bn (down 55%YoY/8%QoQ). · Mar’25 marked the first month of BYD’s official entry into the domestic auto market, with the commencement of sales for the Atto-3 and Seal models. HUBC to post NPAT of PkR10.6bn (EPS: PkR8.18) for 3QFY25: We expect Hub Power Company Ltd (HUBC) to post NPAT of PkR10.6bn (EPS: PkR8.18) for 3QFY25, down 38%YoY. The earnings decline is primarily attributable to: i) lower topline following the termination/renegotiation of the PPA for the base plant and NEL, respectively, ii) decline in share of profits, due to one-off gains in SPLY, iii) discontinuation of foreign debt repayment component for Laraib Energy Ltd (LEL) effective Dec’24, and iv) higher admin/distribution expenses during the quarter. Topline to remain subdued due to PPA ...