Karachi, Pakistan International Container Terminal Limited ("the Company") revealed its robust financial results for the quarter ending June 30, 2023, marked by a noteworthy increase in revenue and profitability. The Company's Board of Directors, in a meeting convened on August 28, 2023, recommended an interim cash dividend of Rs. 20 per share, representing an impressive 200% dividend yield, to its shareholders. This dividend comes in addition to the previously paid interim dividend of Rs. Nil per share.

While the Company opted not to issue bonus shares or right shares this quarter, the financial figures show a clear trajectory of growth. The Company's revenue for the quarter reached Rs. 2,646,357, a notable increase from the corresponding quarter in the previous year, which stood at Rs. 2,797,905. This growth is attributed to an increase in net revenue from services, which soared to Rs. 6,301,533, compared to Rs. 5,833,921 for the same period last year.

The gross profit for the quarter ended June 30, 2023, was reported at Rs. 747,751, displaying an upward trajectory from the previous year's corresponding quarter at Rs. 1,108,362. Administrative expenses and other costs remained controlled, with the Company managing to lower these expenses significantly compared to the previous year.

Profit before taxation for the quarter saw an upward surge, reaching Rs. 925,201, compared to the previous year's figure of Rs. 1,044,058. Despite increased taxation expenses, the Company still reported a strong profit after taxation of Rs. 434,520, showcasing its resilience and efficient financial management in the midst of changing market conditions.

The Company announced that the dividend entitlement will be extended to shareholders listed in the Register of Members as of September 07, 2023. Share Transfer Books will remain closed from September 08, 2023, to September 12, 2023, inclusive.

The financial statements and detailed performance data for the half-year and quarter ended June 30, 2023, have been provided in Annexure A. Furthermore, the Half Yearly Report of the Company for the period ending June 30, 2023, will be communicated through PUCARS within the prescribed time frame.

The Company's earnings per ordinary share exhibited a positive trend as well, with basic and diluted earnings per share for the quarter standing at Rs. 3.98 and Rs. 4.14, respectively. These figures reflect the Company's consistent efforts to deliver value to its shareholders through sustained growth and prudent financial management.

Investors and market analysts are keeping a keen eye on Pakistan International Container Terminal Limited's performance, as the Company continues to demonstrate resilience and financial strength in a dynamic economic landscape.