KARACHI: The National Flag Carrier, Pakistan National Shipping Corporation (PNSC), convened its 46th Annual General Meeting for the financial year 2023-24 on Monday in Karachi.

Sultan A. Chawla, Chairman PNSC Board of Directors, chaired the meeting with all Executive Directors and other senior company officials.

The members of the Corporation approved the financial results for the year ended

June 30, 2024. According to results announced, the earnings per share of the PNSC (Group) is Rs.152.81 as against Rs 227.11 in the comparable period last year.

PNSC has declared final cash dividend of Rs 25 per share (250%), which is also the highest ever in the history of PNSC. Earlier, PNSC had announced interim dividend of Rs 10 per share (100%), making total cash dividend for the year, Rs 35 per share (350%) and 50 bonus shares for every 100 shares held i.e. (50%) to the members of the Corporation.

Cumulatively, the Group achieved a turnover of Rs 46.36 billion and profit after tax of Rs 20.18 billion which is the 2nd highest in PNSC history as compared to turnover of Rs 54.60 billion and profit after tax of Rs 29.99 billion last year.

Last year profit included non-recurring events such as gain on sale of disposal of vessel amounting to Rs 3.34 billion and exchange gain of Rs 3.04 billion.

The members of the Corporation also approved re-appointment of auditors for the year ending June 30, 2025.

Copyright Business Recorder, 2024