46TH ANNUAL GENERAL MEETING.

Karachi : The National Flag Carrier, Pakistan National Shipping Corporation (PNSC), convened its 46th Annual General Meeting for the financial year 2023-24 on October 28 2024 in Karachi. Mr. 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 2 nd 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.
Chairman PNSC concluded his address by thanking the participants and with a hope for PNSC’s continued performance for better results in future.