PNSC declares Rs10 dividend

September 28, 2026 (MLN): Pakistan National Shipping Corporation (PSX: PNSC) reported a 5% increase in its consolidated net profit for the fiscal year ended June 30, 2026, reaching Rs21.55bn compared to Rs20.45bn in the preceding year.

Alongside the financial results, the board recommended a final cash dividend of Rs10 per share.

Reflecting this bottom-line growth, basic and diluted earnings per share (EPS) attributable to equity holders rose to Rs108.77, up from Rs103.22 in FY25.

The primary catalyst behind the performance was strong core shipping revenue expansion and a nearly doubled gross profit.

Revenue from shipping operations surged 50% year-on-year to Rs50.62bn, while other operating revenue jumped 139% to Rs8.57bn, driving total customer revenue up 59% to Rs59.19bn.

Although fleet expenses expanded 44% to Rs37.89bn, gross profit nearly doubled, surging 92% to Rs21.51bn compared to Rs11.22bn in the prior year.

On the operational front, administrative costs were held to a modest 5% growth at Rs2.17bn.

However, operational overheads were impacted by a 48% drop in "other income" (falling to Rs6.92bn from Rs13.25bn in FY25) and a lower impairment reversal on financial assets of Rs178.02m (down from Rs1.83bn). Consequently, operating profit grew by 8% to Rs25.56bn.

Below the operating line, PNSC absorbed higher borrowing costs, with finance charges expanding multi-fold to Rs2.31bn (up from Rs430.40m in FY25). Nevertheless, pre-tax profits remained resilient, rising to Rs22.33bn supported by a 28% drop in statutory levies (Rs916.96m).

The company benefited from a 49% reduction in corporate taxation, absorbing a charge of Rs784.45m for the year (down from Rs1.55bn in FY25).

Backed by a 50% surge in core shipping revenues, doubled gross profits, and tax relief, Pakistan National Shipping Corporation securely closed the fiscal year with its net profit reaching Rs21.55bn.

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