GSK Pakistan posts robust quarterly profit

News Image

MG News | October 28, 2024 at 01:14 PM GMT+05:00

0:00

October 28, 2024 (MLN): GlaxoSmithKline (Pakistan) Limited (PSX: GLAXO) posted a profit after tax of Rs1.93 billion [EPS: Rs6.05] during the quarter ending September 2024 amid significantly higher margins.

That is a notable rebound compared to a loss of Rs69.79 million [LPS: Rs0.22] incurred in the same period last year (SPLY).

Its shares surged 10% during intraday trade Monday.

The company's revenue rose 7.0% to Rs14.73bn as compared to Rs13.77bn in SPLY.

Furthermore, the cost of sales fell 16.1%, improving the gross profit by 293.1% to Rs4.04bn in Q3 2024.

The gross margins jumped to 27.4% as compared to 7.5% in SPLY.

On the tax front, the company paid a higher tax worth Rs858.18m against a credit received worth Rs25.65m in the corresponding period of last year, an increase of .

This translates to an effective tax rate of 30.8% as compared to 26.9% in SPLY.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
  Sep 24 Sep 23 % Change
Sales 14,730,940 13,770,544 6.97%
Cost of sales (10,690,083) (12,742,467) -16.11%
Gross Profit/ (loss) 4,040,857 1,028,077 293.05%
Administrative Expenses (366,901) (622,193) -41.03%
Selling And Distribution Expenses (1,147,095) (1,167,304) -1.73%
Other Income 524,536 672,644 -22.02%
Other Operating Expenses (240,925) 5,067 -
Finance Cost (25,159) (11,733) 114.43%
Profit/ (loss) before taxation 2,785,313 (95,442) -
Taxation (858,179) 25,652 -
Net profit/ (loss) for the period 1,927,134 (69,790) -
Basic earnings/ (loss) per share 6.05 (0.22) -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 139,390.42
291.21M
0.71%
978.17
ALLSHR 86,260.96
576.29M
0.65%
558.00
KSE30 42,618.60
119.41M
0.86%
363.76
KMI30 196,907.86
123.77M
1.44%
2798.27
KMIALLSHR 57,276.87
259.26M
0.99%
563.20
BKTi 37,820.27
20.77M
-0.03%
-11.06
OGTi 28,214.64
47.07M
2.82%
774.00
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,860.00 119,785.00
117,905.00
1240.00
1.05%
BRENT CRUDE 71.15 72.82
71.10
-1.32
-1.82%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.70 70.41
68.63
-1.30
-1.86%
SUGAR #11 WORLD 16.34 16.61
16.28
-0.11
-0.67%

Chart of the Day


Latest News
July 31, 2025 at 05:47 PM GMT+05:00

Public grievance system introduced at EDB


July 31, 2025 at 05:18 PM GMT+05:00

PKR rises by 8 paisa against USD


July 31, 2025 at 04:57 PM GMT+05:00

Gold takes a Rs2,000 per tola hit


July 31, 2025 at 04:48 PM GMT+05:00

United Insurance resumes Guarantee Business operations



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg