Pakistan International Container Terminal Reports Second Quarter Financials

Karachi: Financial results for the quarter ended June 30, 2024, of Pakistan International Container Terminal Limited, a major port operations company, reveal no dividends or shares issuance as per the decisions made by the Board of Directors during their August 26, 2024 meeting. The financial performance summary shows a significant increase in net profits and earnings per share compared to the same period in the previous year.

The company announced that all categories of dividends, including cash, bonus shares, and right shares, are set at nil. Additionally, there are no planned corporate actions or price-sensitive information released. These declarations underscore a steady financial approach despite fluctuating market conditions. The detailed financial statements are provided in Annexure A, and the half-yearly report will be distributed through PUCARS within the prescribed timeline.

According to information available from the Pakistan Stock Exchange (PSX), the condensed interim statement of profit or loss for the half-year and quarter indicates substantial growth. The revenue netted for the quarter stood at 2.65 billion Rupees, marking a notable increase from the 1.52 billion Rupees recorded in the previous year’s same quarter. The gross profit for this quarter reached 747.75 million Rupees, compared to 434.52 million Rupees a year earlier.

The document highlights other financial metrics such as administrative and other expenses, finance costs, and taxation, which collectively influenced the net profit figures. Notably, the profit after taxation surged to 1.52 billion Rupees for the half year ended June 30, 2024, up from 276.11 million Rupees in the same period last year. The earnings per share also increased significantly, from 1.13 Rupees to 3.98 Rupees for the quarter.

This financial update from Pakistan International Container Terminal Limited indicates robust performance and a stable financial position as of the mid-year mark of 2024.

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