Karachi: GlaxoSmithKline Pakistan Limited has announced a significant financial performance for the fiscal year ended December 31, 2024, as per the board meeting held on March 24, 2025. The pharmaceutical company declared a 100% cash dividend at Rs. 10 per share while opting out of issuing any bonus or right shares.

The company's revenue from contracts with customers reached Rs. 61.19 billion in 2024, marking a substantial increase from Rs. 49.66 billion in 2023. This growth translated into a gross profit of Rs. 15.39 billion, compared to Rs. 3.50 billion the previous year. After accounting for selling, marketing, distribution, and administrative expenses, the operating profit soared to Rs. 10.79 billion, significantly higher than the previous year's Rs. 2.24 billion.

The profit before income tax for 2024 stood at Rs. 10.48 billion, a notable rise from Rs. 2.11 billion in 2023. After taxation, the profit amounted to Rs. 6.54 billion, a stark contrast to Rs. 533.95 million reported last year. Consequently, the earnings per share increased to Rs. 20.52 from Rs. 1.68. Total comprehensive income for the year was recorded at Rs. 6.60 billion, up from Rs. 622.73 million in 2023.

According to information available from the Pakistan Stock Exchange (PSX), the company's assets increased to Rs. 45.06 billion from Rs. 38.13 billion, while total equity rose to Rs. 28.28 billion from Rs. 21.68 billion in the previous year. The non-current assets were valued at Rs. 14.36 billion, and current assets amounted to Rs. 30.70 billion.

The company's cash flows from operating activities yielded Rs. 5.06 billion, with cash and bank balances rising to Rs. 6.51 billion at the end of the year from Rs. 3.61 billion at the start. Net cash used in investing activities totaled Rs. 2.10 billion, while financing activities saw a net cash outflow of Rs. 52.88 million.

The board has scheduled the 78th Annual General Meeting for April 28, 2025, where shareholders on record as of April 21, 2025, will receive the declared dividend. The financial results reflect the company's robust performance in the pharmaceuticals sector, aligning with its strategic goals for growth and shareholder value enhancement.