Hifsa Raja

Otsuka Pakistan Limited’s sales revenue inched up 11.24% to Rs1.59 billion in the first six months of fiscal year 2022-23 (6MFY23) from Rs1.43 billion over the corresponding period of the previous fiscal. However, the company’s gross profit decreased 28.83% to Rs355 million in 6MFY23 from Rs499 million in 6MFY22. Similarly, the profit-before-taxation also plunged 97.8% to Rs4.6 million from a profit-before-tax of Rs209 million in 6MFY22. The company reported a loss-after-taxation of Rs6.2 million in 6MFY23, a 104% decrease from the post-tax profit of Rs138 million in 6MFY22, due to increased expenses.

Performance in 2021-22

Otsuka Pakistan Limited’s gross profit increased 12% to Rs2.8 billion in the fiscal year 2022 from Rs2.5 billion in FY21. However, the company’s operating profit decreased 5% to Rs436 million in FY22 from Rs459 million in FY21. The profit-before-taxation also declined 22% to Rs364 million in FY22 from a profit-before-tax of Rs469 million in FY21. The profit-after-taxation also declined 40% to Rs231 million in FY22 from a post-tax profit of Rs386 million in FY21.

About the company

Otsuka Pakistan is incorporated in Pakistan as a public limited company. It is engaged in the manufacturing, marketing and distribution of intravenous infusions and trading in pharmaceutical products, nutritional foods and medical equipment. The company is an indirect subsidiary of Otsuka Pharmaceutical Company Limited, Japan.

Credit: Independent News Pakistan-WealthPk