KARACHI: Pakistan National Shipping Corporation (PNSC) has reported a 5% year-on-year increase in consolidated net profit for the fiscal year ended June 30, 2026, with earnings reaching Rs21.55 billion compared with Rs20.45 billion in FY2025.
The company’s board has also recommended a final cash dividend of Rs. 10 per share, while basic and diluted earnings per share attributable to equity holders increased to Rs. 108.77 from Rs. 103.22 a year earlier.
The improvement was primarily driven by a sharp expansion in core shipping revenue and a significant increase in gross profit. Revenue from shipping operations surged 50% year-on-year to Rs. 50.62 billion, while other operating revenue jumped 139% to Rs. 8.57 billion. As a result, total customer revenue climbed 59% to Rs. 59.19 billion.
Fleet expenses also increased 44% to Rs. 37.89 billion. Despite higher costs, gross profit nearly doubled, rising 92% to Rs. 21.51 billion from Rs. 11.22 billion in FY2025.
PNSC kept administrative expenses relatively contained, with the cost increasing 5% to Rs. 2.17 billion. However, other income fell 48% to Rs. 6.92 billion from Rs. 13.25 billion, while the reversal of impairment on financial assets declined to Rs. 178.02 million from Rs. 1.83 billion.
Despite these pressures, operating profit increased 8% to Rs. 25.56 billion.
Finance charges, however, rose sharply to Rs. 2.31 billion from Rs. 430.40 million a year earlier. Pre-tax profit nevertheless increased to Rs. 22.33 billion, supported partly by a 28% reduction in statutory levies to Rs. 916.96 million.
The company also benefited from lower taxation, with its corporate tax charge falling 49% to Rs. 784.45 million from Rs. 1.55 billion.
The latest results mark another year of growth for PNSC, with stronger shipping operations, higher gross profitability and lower tax costs helping offset increased fleet expenses and borrowing costs. PNSC’s investor-relations portal provides access to its financial reporting and shareholder disclosures.
