Qudsia Bano

GlaxoSmithKline Pakistan Limited’s revenue from sales increased by 14% to Rs41.84 billion in the calendar year 2022 from Rs36.6 billion in 2021. However, the company’s gross profit decreased by 25% to Rs7.3 billion in CY22 from Rs9.7 billion recorded in CY21. The company’s net profit decreased 54% to Rs2.5 million in 2022 from Rs5.4 million in the previous year, reports WealthPK.

Performance in 2021

During the year 2021, the company’s gross sales went up to Rs36.66 billion from Rs35.1 billion in CY20, posting an increase of 4% year-on-year.The gross profit for CY21 stood at Rs9.7 billion, 29% up from Rs7.5 billion in CY20. The profit-before-tax increased from Rs4.9 billion in CY20 to Rs7.4 billion in CY21. The after-tax profit also increased from Rs3.37 billion in CY20 to Rs5.35 billion in FY21, posting a growth of 59% on a year-on-year basis.

In CY20, the company’s EPS was Rs10.60, which increased to Rs16.81 in CY21.

About the company

GlaxoSmithKline Pakistan is a limited liability company engaged in the manufacturing and marketing of research-based ethical specialties and pharmaceutical products. The company is a subsidiary of SR One International BV, which is incorporated in the Netherlands, whereas its ultimate parent company is GlaxoSmithKline PLC, UK (GSK PLC).

Credit: Independent News Pakistan-WealthPk