Citi Pharma declares 100% increase in half year profit

Citi Pharma declares 100% increase in half year profit

KARACHI: Citi Pharma Limited on Tuesday announced about 100 per cent increase in its net profit for the half year ended December 31, 2021.

The net profit of the company was Rs343 million for the half year ended December 31, 2021 as compared with Rs168 million in the same period of the last year.

READ MORE: PSX notifies listing of Citi Pharma

The company said that the net profit had witnessed significant rise in spite of the expenses incurred on the listing of the company during the period under review.

In the period under review, the net sales increased to Rs4.84 billion for the half year ended December 31, 2021 as compared with Rs2.63 billion in the corresponding period of the last year, showing a growth of 84 per cent.

Similarly, the gross profit increased to Rs701 million for the period under review as compared with Rs410 million in the same period of the last year.

READ MORE: Citi Pharma’s IPO oversubscribed; Rs2.32 billion raised in book building

On the quarter basis there is an increase of sales of the company from Rs1.99 billion to Rs2.85 billion and registered an increase of 43 per cent from the previous quarter.

The gross profit for the quarter increased to Rs405 million as compared with Rs296 million from the previous quarter and witnessed an increase of 37 per cent.

READ MORE: Citi Pharma’s IPO book building starts June 15

Net profit of the second quarter has improved to Rs261 million a compared with Rs81 million and registered an increase of 222 per cent on quarter basis, in the first quarter listing expense of Rs129 million was incorporated otherwise the profit could have been Rs210 million.

The company has also decided to increase the number of beds of the hospital from 50 to 200.

READ MORE: List of cities contributing tax above Rs1 billion

Leave a Reply

You have to agree to the comment policy.