Karachi: The Pakistan National Shipping Corporation (PNSC) has officially released its financial results for the third quarter ended September 30, 2024. According to the board of directors, the corporation saw revenues of 1,016.52 million rupees this quarter, a slight increase from 1,012.41 million rupees in the same period last year.

Expenditure for the quarter totaled 3,555.75 million rupees, yielding a gross profit of 104.66 million rupees after administrative expenses and other costs were accounted for. Notably, other income significantly contributed with a value of 2,372.23 million rupees. Consequently, the operating profit stood at 2,158.46 million rupees. However, the finance costs amounted to 2,263.11 million rupees, leading to a profit before levies and taxation of 2,125.85 million rupees. After accounting for levies and taxation, the profit for the period was recorded at 1,427.49 million rupees, with an earnings per share of 10.81 rupees.

The consolidated financial results of PNSC and its subsidiaries also reflected changes, showing a revenue decrease from 13,295.89 million rupees in the previous year to 10,839.18 million rupees. Despite the reduction in revenue, the profit for the period was considerable, at 5,633.97 million rupees, and earnings per share were reported at 42.66 rupees. According to information available from the Pakistan Stock Exchange (PSX), these figures reflect the ongoing fluctuations in the maritime sector, influenced by both internal operational activities and external economic conditions.

The data shows that PNSC has managed to navigate through challenging economic times, maintaining profitability through effective cost management and strategic income generation from other operations.