GlaxoSmithKline Pakistan Limited profits rise by 11.69 percent to Rs. 914.740 million

MG News | April 24, 2018 at 04:28 PM GMT+05:00

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GlaxoSmithKline Pakistan Limited (GLAXO) today announced financial results for the three months period ending 31 March, 2018 reporting Sales at Rs. 9.122 billion; an increase of 8.74 percent. Furthermore, the company’s Gross Profit jumped to Rs. 2.657 billion during the outgoing three months.

On the expenses front, GLAXO reported 19.05 percent increase in Selling, Marketing and Distribution Expenses, 3.54 percent increase in Administrative Expenses, whereas, other operating expenses incurred by the company jumped 13.87 percent during the period.

Furthermore, GLAXO also reported a 38.63 percent decrease in Other Income reaching Rs. 53.203 million during the three months.

GlaxoSmithKline Pakistan Limited reported profit after taxation at Rs. 914.740 million against Rs. 819.031 million during the same period last year translating into an EPS of Rs. 2.87 vs. an EPS of Rs. 2.57 during the three months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR’ 000
Net Sales	9,122,557	8,388,948	8.74%
Cost of Sales	6,465,417	6,134,472	5.39%
Gross Profit	2,657,140	2,254,476	17.86%
Selling, Marketing and Distribution Expenses	888,423	746,263	19.05%
Administrative Expenses	246,939	238,498	3.54%
Other Operating Expenses	122,983	108,000	13.87%
Other Income	53,203	86,693	-38.63%
Operating Profit	1,451,998	1,248,408	16.31%
Financial Charges	49,151	4,212	1066.93%
Profit before Taxation	1,402,847	1,244,196	12.75%
Taxation	488,107	416,488	17.20%
PAT from continuing operations	914,740	827,708	10.51%
Loss after Taxation from discontinued operations	-	(8,677)
Total PAT	914,740	819,031	11.69%
EPS - Continuing Operations	2.87	2.60	10.38%
EPS - Discontinuing Operations	-	(0.03)
EPS	2.87	2.57	11.67%

Company release on Earnings Report can be accessed here.

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