Citi Pharma rakes in 79% net profit in 1QFY23

January 20, 2023

Qudsia Bano

Citi Pharma Limited’s revenue from sales increased by 57% and stood at Rs3.1billion in the first quarter of the ongoing Financial Year 2022-23 (1QFY23) compared to Rs1.99 billion in the corresponding period of the previous fiscal. The gross profit increased by 25% to Rs370 million in 1QFY23 from Rs296 million recorded in 1QFY22.

The company posted a net profit of Rs145.8 million in 1QFY23 from a profit of Rs81 million over the corresponding period of FY22, showing a positive growth of 79% year-on-year although a 130-million-rupee exchange loss was brought on by the Pakistani rupee's ongoing depreciation, reports WealthPK.

Performance in 2021-22

During the Fiscal Year 2021-22, the company’s gross sales went up to Rs9.7 billion from Rs5.8 billion in FY21, posting a massive increase of 69% year-on-year.   The gross profit for FY22 stood at Rs1.3 billion, 73% up from Rs780 million in FY21. The profit after tax for the year went up by 81% to Rs635.8 million from Rs351.7 million in FY21, reports WealthPK.

Earnings Per Share

The EPS showed a positive growth during the recent years. In FY20, the EPS increased to Rs31.87 from Rs6.18 in FY19. The EPS then decreased to Rs3.64 in FY21 and Rs2.8 in FY22.

About the company

Citi Pharma Limited was incorporated as a private limited company in Pakistan under the repealed Companies Ordinance, 1984 on October 08, 2012. The principal activity of the company is the manufacture and sale of pharmaceuticals, medical chemicals, and botanical products.

Credit : Independent News Pakistan-WealthPk