Historic profits of PNSC for the year ended 30th June 2023

Pakistan National Shipping Corporation (PNSC) Group achieved record-breaking net profit after tax amounting to Rs. 30 billion during the year 2022-23 as compared to Rs. 5.6 billion during the preceding year.

The Board of Directors of PNSC, on Wednesday, 27th September 2023, announced the financial results for the year ended June 30, 2023. According to the results, the earnings per share of the PNSC (Group) is Rs.227.11 against Rs. 42.75 in the comparable period last year. PNSC has declared a final cash dividend of Rs.15 per share (150%), which is also the highest ever in the history of PNSC. Earlier in the year (2022-23). PNSC had announced an interim dividend of Rs. 5 per share (50%), making the total cash dividend for the year, Rs. 20 per share (200%). Cumulatively, the Group achieved a turnover of Rs.54.8 billion compared to Rs.27.8 billion last year. The major increase in freight revenue was observed from the transportation of liquid cargo, which increased by Rs.22 billion.

During the year, PNSC successfully added two Aframax Oil Tankers (M.T. Sargodha & M.T. Mardan).The Dry Cargo segment (including slot charter) increased by Rs.2.62 billion due to a major increase in slot charter revenue business from Public Interest Entities.

The PNSC-managed fleet comprises twelve (12) vessels of various types /sizes (five bulk carriers, five Aframax tankers and two LR-1 product tankers), having a total deadweight tonnage (DWT) of 938,876 metric tons.

Posted in Ports & Shipping News.

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