GSK Pakistan reports impressive profit surge in Q1 FY25

By MG News | April 25, 2025 at 02:13 PM GMT+05:00

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April 25, 2025 (MLN): GlaxoSmithKline (Pakistan) Limited (PSX: GLAXO) posted a profit after tax of over Rs2.12 billion [EPS: Rs6.68] during the quarter ended March 31, 2025, showcasing a robust recovery in its financial performance.

This marks a significant surge of 276% compared to a profit of Rs565.28 million [EPS: Rs1.78] in the same period last year (SPLY).

The company’s revenue remained steady at Rs15.58bn, with a marginal dip of 0.23% from Rs15.62bn in SPLY.

Meanwhile, cost of sales fell substantially by 23.2% YoY, driving a 134.7% jump in gross profit to Rs5.33bn for the quarter under review.

Operating profit skyrocketed 259.7% to Rs3.63bn, despite a 238.9% increase in other operating expenses and a 54.1% drop in other income.

On the taxation front, GLAXO paid Rs1.39bn versus Rs394.62m last year, reflecting an effective tax rate of 39.6%, compared to 41.1% in the corresponding period.

Financial Results for the Quarter Ended March 31, 2025 (Rs '000)
Category	Mar-25	Mar-24	%Change
Revenue from contracts with customers – net	15,580,140	15,616,126	-0.23%
Cost of sales	(10,254,251)	(13,347,268)	-23.17%
Gross profit	5,325,889	2,268,858	134.74%
Selling, marketing, and distribution expenses	(1,064,216)	(1,116,675)	-4.70%
Administrative expenses	(538,152)	(528,195)	1.89%
Other operating expenses	(308,636)	(91,065)	238.92%
Other income	219,265	477,440	-54.07%
Operating profit	3,634,150	1,010,363	259.69%
Financial charges	(114,099)	(50,458)	126.13%
Profit before levies and income tax	3,520,051	959,905	266.71%
Levies – Minimum tax	-	-
Profit before income tax	3,520,051	959,905	266.71%
Taxation – net	(1,393,504)	(394,624)	253.12%
Profit after taxation	2,126,547	565,281	276.19%
Earnings per share (EPS) – Rs.	6.68	1.78	275.28%

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