GSK Pakistan reports impressive profit surge in Q1 FY25
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 MG News | April 25, 2025 at 02:13 PM GMT+05:00
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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