PNSC earns Rs649.57bln profit

Pakistan National Shipping Corporation and its subsidiaries have recorded 10 times increase in the net profits for the quarter, as its revenue increased.

In its consolidated financial results released to the Pakistan Stock Exchange (PSX), the company posted a net profit of Rs649.57 million for the quarter ended September 30, up against Rs59.88 million during the corresponding period of the last year.

The company posted earnings per share (EPS) of Rs4.92 as compared to 45 paisas during the same period of the last year. Revenue of PNSC increased 24 percent to Rs3.68 billion for the period under review as compared to Rs2.97 billion last year. It posted expenditures of Rs2.51 billion against Rs2.44 billion. Thus, gross profits were recorded at Rs1.16 billion from Rs532.66 billion last year.

Other income of the company also increased to Rs306.23 million as compared to Rs136.33 million last year.