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Earning Review: Systems Ltd observes remarkable growth in PAT

August 27, 2019 (MLN): Systems Limited (SYS) observed a remarkable increase in its half yearly net profits after tax by 93% YoY to Rs 878 million with Earning per share reported at Rs 7.61.

 As company derives most of the revenues from exports and due to rupee depreciation against green back, its net revenues rose by 53.6% during the period.

Moreover, the company observed 81% increase in its other income due to gain on foreign currency translation as rupee saw depreciation during the period under review.

Among other major heads, company’s distribution cost, administrative cost and other operating expenses surged by 46.5%, 38% and 45% respectively. In addition, finance cost mounted considerably by 144% owing to rise in interest rates.

Consolidated Condensed Interim Profit and Loss account for half Year ended June 30th 2019 (Rupees)

 

Jun-19

Jun-18

% Change

Revenue – net

 3,580,778,430

 2,331,108,188

53.61%

Cost of sales

 2,477,916,571

 1,679,069,483

47.58%

Gross profit

 1,102,861,859

 652,038,705

69.14%

Distribution cost

 95,484,319

 65,146,617

46.57%

Administrative expenses

 321,590,760

 232,527,168

38.30%

Other operating expenses

 67,008,726

 46,162,700

45.16%

Other income

 294,009,653

 162,471,614

80.96%

Operating profit

 912,787,707

 470,673,834

93.93%

Finance cost

 19,791,671

 8,087,125

144.73%

Profit before taxation

 892,996,036

 462,586,709

93.04%

Taxation

 14,809,628

 9,541,840

55.21%

Profit after taxation

 878,186,408

 453,044,869

93.84%

Earnings per share – basic 

 7.61

 4.11

85.16%

 

Copyright Mettis Link News

Posted on: 2019-08-27T10:55:00+05:00

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