GSK Pakistan suffers Rs1.23 loss per share in 9 months

October 24, 2023 (MLN): GlaxoSmithKline (Pakistan) Limited (PSX: GLAXO) unveiled its profit and loss statement for the nine months ended September 30 2023, wherein the loss after tax clocked in at 391.62 million [LPS: Rs1.23], compared to a profit of Rs779.88m [EPS: Rs2.45] in the same period last year (SPLY).

Going by the results, the company's top line marked an increase of 23.05% YoY to Rs37.03bn as compared to Rs30.09bn in SPLY.

However, the cost of sales also rose by 39.97% YoY, which worsened the gross profit by 52.41% YoY to Rs2.62bn in 9MCY23.

During the review period, other income increased by 67.96% YoY to stand at Rs2.96bn in 9MCY23 as compared to Rs1.77bn in SPLY.

On the expense side, the company observed an increase in sales and distribution expenses by 38.00% YoY while reducing other operating expenses by 87.23% YoY to clock in at Rs3.44bn and Rs26.74m respectively during the review period.

The company’s finance charges decreased by 52.21% YoY and stood at Rs377.94m as compared to Rs790.87m in 9MCY22.

On the tax front, the company paid a higher tax worth Rs647.1m against the Rs1.7bn paid in the corresponding period of last year, depicting a rise of 62.04% YoY.

Amount in thousand except for EPS

GLAXO and KSE-100 YTD Performance

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