PNSC profit sinks 34% in Q1 FY26

October 29, 2025 (MLN): Pakistan National Shipping Corporation (PSX: PNSC) reported a profit after tax (PAT) of Rs3.71 billion for the quarter ended September 30, 2025, compared with Rs5.63bn in the same period last year, marking a 34%YoY decline.

The company’s total revenue from contracts with customers stood at Rs10.18bn, slightly lower than Rs10.76bn in Q1 FY2024.

Of this, the shipping business contributed Rs9.32bn, while other operating activities added Rs856.9 million.

PNSC recorded a gross profit of Rs3.30bn, compared to Rs4.76bn last year, translating to a gross profit margin of 32.1%, down from 44.2% a year earlier.

The decline primarily stemmed from higher fleet expenses, which rose to Rs6.95bn from Rs6.03bn, and increased administrative expenses of Rs506m.

The corporation’s operating profit came in at Rs4.42bn, compared to Rs6.51bn in the same quarter last year.

Finance costs fell sharply to Rs54.8m from Rs140.2m, indicating better financial efficiency.

After accounting for levies of Rs104m and taxation of Rs549m, the net profit stood at Rs3.71bn, giving a net profit margin of 36.2%, compared with 52.3% last year.

Earnings per share (EPS) for the quarter were Rs 18.75, down from Rs 28.44 in Q1 FY2024.

Key Financial Highlights (Rupees in ‘000)

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