GlaxoSmithKline Pakistan Limited profits rise by 11.69 percent to Rs. 914.740 million
By MG News | April 24, 2018 at 04:28 PM GMT+05:00
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.
| Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30th 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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