April 28, 2023 (MLN): Pakistan National Shipping Corporation (PSX: PNSC) profitability soared by 9.79x YoY to clock in at Rs23.95 billion [EPS: Rs181.40] in 9MFYY23 against the profits of Rs2.44bn [EPS: Rs18.52] reported in the same period last year (SPLY).
Going by the results, the topline of the company stood at Rs42.37bn in 9MFY23, registering 2.61x YoY growth compared to Rs16.22bn in SPLY.
On the expense side, impairment loss on financial assets rose by 2.41x YoY, and other expenses posted a 63.21% YoY growth.
However, the rise in expenses was overshadowed by the staggering growth in other income, which inflated by 11.75x YoY to stand at Rs7.45bn in 9MFY23.
Despite macroeconomic challenges like high-interest rates and the continued devaluation of the rupee, the company managed to record impressive profitability.
On the taxation front, the company paid 83.58% YoY higher taxes worth Rs640.83 million as tax payments against Rs349.06m paid in the corresponding period of last year
|
Consolidated Profit and Loss Account for the nine months ended March 31, 2023 ('000 Rupees) |
|||
|---|---|---|---|
|
|
Mar-23 |
Mar-22 |
% Change |
|
Revenue |
42,378,690 |
16,222,688 |
161.23% |
|
Expenditure |
(21,917,051) |
(12,325,171) |
77.82% |
|
Gross Profit |
20,461,639 |
3,897,517 |
424.99% |
|
Administrative Expenses |
(1,134,395) |
(809,966) |
40.05% |
|
Impairment Loss on Financial Assets |
(893,485) |
(370,897) |
140.90% |
|
Other Expenses |
(285,759) |
(175,087) |
63.21% |
|
Other Income |
7,454,361 |
634,262 |
1075.28% |
|
|
5,140,722 |
(721,688) |
– |
|
Operating Profit |
25,602,361 |
3,175,829 |
706.16% |
|
Finance Costs |
(1,005,429) |
(380,760) |
164.06% |
|
Profit Before Taxation |
24,596,932 |
2,795,069 |
780.01% |
|
Taxation |
(640,837) |
(349,069) |
83.58% |
|
Profit After Taxation |
23,956,095 |
2,446,000 |
879.40% |
|
Earnings Per Share |
181.40 |
18.52 |
|
Copyright Mettis Link News
Posted on: 2023-04-28T11:14:54+05:00
