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GSK Pakistan reports impressive profit surge in Q1 FY25

GSK Pakistan reports impressive profit surge in Q1 FY25
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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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Posted on: 2025-04-25T14:13:52+05:00