The profitability of the non-financial firms’ dependent upon various factors. The study carefully looked at independent variables including growth opportunities, firm size, tangibility of assets, and current or anticipated earnings, as well as dependent variables like profitability as determined by the ratio of total dividends to net profit per share. Here in this study five non-financial pharmaceutical companies including Abbott Pak, GSK Pak, Ferozsen, Citi pharma and AGP ltd profitability in the share market were examined and it has revealed that the profitability increases with increase in the all other four independent variables which are firm size, growth opportunity, tangibility of asset and current earnings. Various econometric models like Autoregressive distributive lag (ARDL), Bounds Test, cusum Test and Error correction model were applied to know whether the variables are significant and positively related are not. However, after the implementation of the ECM it was revealed that the variables are not auto-correlated as the Durbin-Watson results did not lie between 1.8 and 2.2.