Karachi: GlaxoSmithKline Pakistan Limited and AGP Limited are expected to report a decline in their quarterly earnings, driven by reduced sales compared to the previous quarter, according to projections.
According to JS Global, GlaxoSmithKline Pakistan Limited is anticipated to report an earnings per share (EPS) of Rs7.00, indicating a 5 percent increase year-over-year. However, on a sequential basis, the company's profit after tax (PAT) is projected to decline by 41 percent, reflecting a decrease in sales following the peak demand season during winter. Meanwhile, AGP Limited is expected to post a consolidated EPS of Rs2.71, marking an 11 percent decline year-over-year and a 39 percent drop quarter-over-quarter. The decrease in earnings for AGP is attributed to seasonal impacts on drug sales, export pressures, and expenses related to border closures.
Despite the weaker earnings outlook, the sector maintains an "Overweight" rating, with GlaxoSmithKline Pakistan Limited and AGP Limited identified as top picks. Currently, they are trading at a CY26 estimated price-to-earnings ratio of 10.8x and 10.4x, respectively.
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