PNSC 1QFY27 profit skyrockets nearly 3x

October 29, 2026 (MLN): Pakistan National Shipping Corporation (PSX: PNSC) reported a 2.7x surge in its consolidated net profit for the first quarter ended September 30, 2026 (1QFY27 / 3MFY27), reaching Rs9.83bn compared to Rs3.71bn in the corresponding period of the previous fiscal year.

Reflecting the dramatic bottom-line growth, basic and diluted earnings per share (EPS) attributable to equity holders of the holding company rose  to Rs49.64 for the three-month period, up from Rs18.75 recorded in 3MFY26.

The primary catalyst driving performance was a massive 107% expansion in total top-line revenue, which reached Rs21.29bn compared to Rs10.27bn in 3MFY26.

Revenue from contracts with customers surged 108% to Rs21.19bn, propelled by an 80% rise in shipping business income to Rs16.80bn (up from Rs9.32bn) and a more than five-fold increase in other operating activities to Rs4.39bn from Rs856.92m.

Rental revenue from others contributed Rs104.37m, up 21%. Total operating expenditures rose 51% to Rs10.51bn (with fleet expenses rising 51% to Rs10.46bn), enabling gross profit to surge  to Rs10.78bn against Rs3.30bn in 3MFY26.

Consequently, the company's gross profit margin expanded to 50.66% from 32.16% in the comparative quarter.

On the operational side, overheads remained tightly contained relative to top-line gains.

Administrative expenses edged up 5% to Rs533.23m (up from Rs506.40m), while other expenses fell 6% to Rs117.74m.

Financial assets recorded an impairment loss of Rs41.38m (against an impairment reversal of Rs68.68m previously), and other income declined 26% to Rs1.24bn from Rs1.68bn.

Despite net non-operating contributions decreasing to Rs550.43m, operating profit soared to Rs11.34bn compared to Rs4.42bn in 3MFY26.

Below the operating line, finance costs climbed sharply to Rs1.30bn from Rs54.79m in the prior-year period.

Accounting for statutory levies of Rs143.11m (up 38% from Rs103.99m), profit before taxation expanded 2.3x to Rs9.89bn against Rs4.26bn.

Benefiting from an 89% reduction in taxation expense to Rs60.68m (down from Rs549.37m), Pakistan National Shipping Corporation concluded the first quarter with a consolidated net profit of Rs9.83bn.

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