Hub Power Company Limited has seen a sharp decline in earnings from its investment in China’s BYD project, with profits from the venture almost completely eroding over the past year.

According to company data, the BYD-related contribution to profits stood at Rs. 222 million in March 2025, but dropped progressively in subsequent quarters to Rs. 114 million in September 2025, Rs. 54 million in December 2025, and just Rs. 0.5 million in March 2026.

This reflects a dramatic near 99.8 percent decline in profitability within one year, highlighting a steep slowdown in returns from the project.

The company also reported a loss during June 2025, which was mainly attributed to higher marketing and administrative expenses.

On the investment side, HUBC has deployed approximately Rs. 6.6 billion (around USD 24 million) so far in the project. This forms part of its total committed equity investment of USD 30 million in the BYD venture.

The sharp fall in earnings comes despite continued capital allocation, raising attention on the project’s short-term return profile as investments continue to build up.