Karachi, March 24, 2025 – GlaxoSmithKline Pakistan Limited has announced an extraordinary surge in its profit after tax (PAT), registering a staggering 1124% increase for the year ending December 31, 2024.
This significant financial achievement highlights the company’s strong performance and resilience in a challenging economic environment.
As per the financial results submitted to the Pakistan Stock Exchange (PSX), GlaxoSmithKline reported a PAT of Rs 6.54 billion for 2024, a substantial rise compared to Rs 534 million recorded in the previous year. This remarkable growth reflects the company’s strategic initiatives and operational efficiencies, reinforcing its position as a leading player in the pharmaceutical industry.
The earnings per share (EPS) for the year surged to Rs 20.52, a significant jump from Rs 1.68 in the previous financial year, demonstrating the company’s robust financial health and strong returns for shareholders.
GlaxoSmithKline’s total sales for the year 2024 stood at Rs 45.80 billion, showing a marginal decrease from Rs 46.16 billion in 2023. However, revenue from contracts with customers witnessed a substantial rise, reaching Rs 61.19 billion compared to Rs 49.66 billion in the preceding year. This surge in revenue indicates the company’s effective market strategies and growing consumer demand for its pharmaceutical products.
The company’s gross profit also saw a dramatic improvement, soaring to Rs 15.39 billion for the year ending December 31, 2024, compared to Rs 3.50 billion in the prior year. This impressive growth underscores the company’s focus on cost optimization and enhanced profitability.
On the expense side, administrative costs experienced a slight decline, amounting to Rs 1.80 billion, as compared to Rs 1.81 billion in the previous year. Meanwhile, GlaxoSmithKline’s operating profit showed remarkable progress, reaching Rs 10.79 billion for 2024, a significant increase from Rs 2.24 billion recorded in 2023.
GlaxoSmithKline’s stellar financial performance in 2024 underscores its strong market presence, efficient operations, and commitment to growth. With strategic expansions and an emphasis on innovation, the company continues to solidify its position as a key player in Pakistan’s pharmaceutical sector.