GlaxoSmitKline reports a drop of 6.7% in half yearly profits

Financial Results for the Half Year ended June 30th 2018 ('000 Rupees)

Jun-18

Jun-17

% Change

Sales

                     17,224,111

                     16,208,185

6.27%

Cost of Sales

                  (12,725,298)

                  (11,824,067)

7.62%

Gross Profit

                       4,498,813

                       4,384,118

2.62%

Selling, marketing and distribution expenses

                     (1,710,735)

                     (1,478,058)

15.74%

Administrative expenses

                        (521,954)

                        (482,952)

8.08%

Other operating expenses

                        (204,042)

                        (222,013)

-8.09%

Other income

                           232,102

                           294,599

-21.21%

Profit from operations

                       2,294,184

                       2,495,694

-8.07%

Finance cost

                           (71,239)

                             (9,761)

629.83%

Profit before taxation

                       2,222,945

                       2,485,933

-10.58%

Taxation

                        (918,660)

                     (1,027,937)

-10.63%

Profit after taxation from continuing operations

                       1,304,285

                       1,457,996

-10.54%

(Loss)/Profit after taxation from discontinued operations

                             26,029

                           (31,721)

Total profit after taxation

                       1,330,314

                       1,426,275

-6.73%

Earnings per share (Rupees)

                                  4.18

                                  4.48

-6.70%