{"id":7158,"date":"2024-08-24T04:07:04","date_gmt":"2024-08-24T04:07:04","guid":{"rendered":"https:\/\/gsrra.com\/?p=7158"},"modified":"2024-08-24T04:07:06","modified_gmt":"2024-08-24T04:07:06","slug":"gsk-pakistan-bounces-back-with-rs1-1bn-profit","status":"publish","type":"post","link":"https:\/\/gsrra.com\/?p=7158","title":{"rendered":"GSK Pakistan bounces back with Rs1.1bn profit"},"content":{"rendered":"\n

Healthy Business Environments makes Companies to enhance Profits. <\/em><\/strong><\/p>\n\n\n\n

August 23, 2024 (MLN): <\/strong>GlaxoSmithKline (Pakistan) Limited (PSX: GLAXO) made a strong recovery in the second quarter of 2024, earning a profit after tax of Rs1.09 billion [EPS: Rs3.41] driven by a substantial surge in gross margins.<\/p>\n\n\n\n

This compares with a loss of Rs752.39 million [LPS: Rs2.36] incurred in the same period last year.<\/p>\n\n\n\n

The company’s sales revenue grew by 11.8% to Rs13.25bn as compared to Rs11.86bn in SPLY.<\/p>\n\n\n\n

Furthermore, the cost of sales fell 11.9%, improving the gross profit substantially by 570.1% to Rs3.23bn in Q2 2024.<\/p>\n\n\n\n

The gross margins surged to 24.4% as compared to 4.1% in SPLY.<\/p>\n\n\n\n

During the period under review, other income went down by 15.9% to stand at Rs415.16m in Q2 2024 as compared to Rs493.89m in SPLY.<\/p>\n\n\n\n

On the expense side, the company’s administrative expenses rose 15.0% YoY to Rs495.35m, other operating expenses rose to Rs158.33m, while selling and distribution expenses fell 19.6% YoY to Rs970.57m.<\/p>\n\n\n\n

The company\u2019s finance cost inflated to Rs166.12m as compared to a finance income of Rs322.14m in SPLY.<\/p>\n\n\n\n

On the tax front, the company paid a higher tax worth Rs767.53m against the Rs440.07m paid in the corresponding period of last year, depicting a rise of 74.4%.<\/p>\n\n\n\n

Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in ‘000)<\/th><\/tr><\/thead>
 <\/td>Jun 24<\/td>Jun 23<\/td>% Change<\/td><\/tr>
Sales<\/td>13,254,797<\/td>11,860,206<\/td>11.76%<\/td><\/tr>
Cost of sales<\/td>(10,023,208)<\/td>(11,377,965)<\/td>-11.91%<\/td><\/tr>
Gross Profit\/ (loss)<\/strong><\/td>3,231,589<\/strong><\/td>482,241<\/strong><\/td>570.12%<\/strong><\/td><\/tr>
Administrative Expenses<\/td>(495,347)<\/td>(430,793)<\/td>14.98%<\/td><\/tr>
Selling And Distribution Expenses<\/td>(970,569)<\/td>(1,207,141)<\/td>-19.60%<\/td><\/tr>
Other Income<\/td>415,163<\/td>493,890<\/td>-15.94%<\/td><\/tr>
Other Operating Expenses<\/td>(158,327)<\/td>27,340<\/td>\u2013<\/td><\/tr>
Finance Income\/ (cost)<\/td>(166,115)<\/td>322,143<\/td>\u2013<\/td><\/tr>
Profit\/ (loss) before taxation<\/td>1,856,394<\/td>(312,320)<\/td>\u2013<\/td><\/tr>
Taxation<\/td>(767,525)<\/td>(440,073)<\/td>74.41%<\/td><\/tr>
Net profit\/ (loss) for the period<\/strong><\/td>1,088,869<\/strong><\/td>(752,393)<\/strong><\/td>\u2013<\/strong><\/td><\/tr>
Basic earnings\/ (loss) per share<\/strong><\/td>3.41<\/strong><\/td>(2.36)<\/strong><\/td>\u2013<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Amount in thousands except for EPS<\/p>\n\n\n\n

Reference Link:- https:\/\/mettisglobal.news\/gsk-pakistan-bounces-back-with-rs1-1bn-profit\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Healthy Business Environments makes Companies to enhance Profits. August 23, 2024 (MLN): GlaxoSmithKline (Pakistan) Limited (PSX: GLAXO) made a strong recovery in the second quarter of 2024, earning a profit after tax of Rs1.09 billion [EPS: Rs3.41] driven by a substantial surge in gross margins. This compares with a loss of Rs752.39 million [LPS: Rs2.36] incurred in […]<\/p>\n","protected":false},"author":1,"featured_media":7159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[2869,105,2867,2868,36,2157,2870],"class_list":["post-7158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sample-category","tag-business-booming-in-pakistan","tag-geopolitics-2","tag-gsk","tag-healthy-business-environments","tag-pakistan","tag-pharma","tag-profits-jump"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/7158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7158"}],"version-history":[{"count":1,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/7158\/revisions"}],"predecessor-version":[{"id":7160,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/7158\/revisions\/7160"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/media\/7159"}],"wp:attachment":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}