Systems Limited’s profits jump by 71% despite significant rise in finance and tax expense

06:24
April 29, 2020
MG

April 29, 2020 (MLN): Systems Limited has earned profits of Rs. 526.8 million (EPS: Rs. 4.31) during the quarter ended March 31, 2020, almost 71% higher as opposed to the earnings of the same period last year.

The growth in earnings was achieved on the back of the rise in topline income by 39% and non-core income by 4.86x. A fall in non-core expenses by 48% also contributed to the overall earnings of the company.

However, the major expense heads such as Distribution and Administrative cost increased by 78% and 48% respectively. On top of that, the finance cost depicted a growth of 104% due to excessing borrowing and higher interest rates, while income tax expense jumped by 73%.

Profit and Loss account for quarter ended March 30, 2020 (Rupees)
	Mar-20	Mar-19	% Change
Revenue – net	2,231,850,608	1,601,241,891	39.38%
Cost of sales	1,582,179,058	1,114,426,910	41.97%
Gross profit	649,671,550	486,814,981	33.45%
Distribution cost	80,473,818	45,066,369	78.57%
Administrative expenses	218,590,645	147,312,745	48.39%
Other operating expenses	5,138,241	9,866,951	-47.92%
Other income	202,657,287	34,552,454	486.52%
Operating profit	548,126,134	319,121,370	71.76%
Finance cost	11,197,153	5,475,889	104.48%
Profit before taxation	536,928,981	313,645,481	71.19%
Taxation	10,120,705	5,848,074	73.06%
Profit after taxation	526,808,276	307,797,407	71.15%
Earnings per share – basic	4.31	2.78	55.04%

Copyright Mettis Link News

Posted on: 2020-04-29T11:24:00+05:00

34518

FOREX

EQUITY

COMMODITIES

FOREX

PairID	Symbol	Bid	Ask	High	Low	Update
1	PKR	278.40000	278.60000	278.60000	278.40000	03:02 PM
2	EUR	1.06850	1.06880	1.06880	1.06850	07:55 AM
3	GBP	1.24304	1.24316	1.24316	1.24304	07:55 AM
4	CHF	0.91456	0.91468	0.91468	0.91456	07:55 AM
5	JPY	154.93000	154.93500	154.93500	154.93000	07:55 AM
6	CAD	1.36870	1.36920	1.36920	1.36870	07:55 AM
7	AUD	0.65027	0.65031	0.65031	0.65027	07:55 AM
8	INR	83.31180	83.31230	83.31230	83.31180	07:55 AM
9	SAR	3.75050	3.75070	3.75070	3.75050	04:55 PM
10	AED	3.67240	3.67340	3.67340	3.67240	04:52 PM
11	HKD	7.83260	7.83270	7.83270	7.83260	07:55 AM
12	CNH	7.26941	7.26954	7.26954	7.26941	07:55 AM
13	CNY	7.24480	7.24570	7.24570	7.24480	11:52 PM
14	THB	37.04600	37.07000	37.07000	37.04600	07:55 AM
15	MYR	4.77500	4.78000	4.78000	4.77500	05:06 AM
16	IDR	16,158.20000	16,167.90000	16,167.90000	16,158.20000	07:55 AM
17	SGD	1.36136	1.36145	1.36145	1.36136	07:55 AM
18	NZD	0.59325	0.59329	0.59329	0.59325	07:55 AM
19	MXN	16.92370	16.95370	16.95370	16.92370	07:55 AM
20	TRY	32.51760	32.52760	32.52760	32.51760	07:55 AM
21	SEK	10.87820	10.87960	10.87963	10.87819	07:55 AM
22	ZAR	19.16730	19.19730	19.19730	19.16730	07:55 AM
23	NOK	10.98300	10.98530	10.98533	10.98304	07:55 AM
24	DKK	6.97935	6.97995	6.97995	6.97935	07:55 AM
25	ARS	872.76500	872.77500	872.77540	872.76540	07:55 AM
26	BDT	108.08100	111.45000	111.45007	108.08130	07:19 AM
27	BHD	0.37701	0.37705	0.37705	0.37701	04:55 PM
28	BRL	5.13080	5.13380	5.13380	5.13080	07:51 AM
29	KRW	1,374.75000	1,375.26000	1,375.26000	1,374.75000	07:55 AM
30	KWD	0.30786	0.30810	0.30810	0.30786	04:55 PM
31	LKR	295.09500	301.64500	301.64508	295.09470	07:19 AM
32	OMR	0.38498	0.38503	0.38503	0.38498	04:55 PM
33	QAR	3.64600	3.64900	3.64900	3.64600	04:55 PM
34	RUB	93.47000	94.07000	94.07000	93.47000	08:00 PM
35	AFN	71.29620	73.16780	73.16776	71.29623	07:19 AM
36	AZN	1.70000	1.70000	1.70000	1.70000	05:44 AM
37	TMT	3.35000	3.65000	3.65000	3.35000	08:00 PM
38	MVR	15.26000	15.66000	15.66000	15.26000	08:00 PM
39	UZS	12,675.00000	12,740.50000	12,740.49259	12,674.98877	07:19 AM
40	PHP	57.64900	57.69300	57.69300	57.64900	07:55 AM
42	NGN	1,289.99000	1,290.99000	1,290.99000	1,289.99000	07:09 AM
43	KES	134.00000	136.00000	136.00000	134.00000	06:47 AM
44	AMD	362.05200	418.19900	418.19900	362.05235	07:19 AM
45	TWD	32.59100	32.59700	32.59700	32.59100	07:55 AM
46	XAU	2,315.32000	2,315.60000	2,315.60000	2,315.32000	07:54 AM
47	XAG	27.11260	27.12080	27.12080	27.11260	07:54 AM
48	XPT	910.11000	917.26900	917.26940	910.10950	04:55 PM
49	XPD	1,017.91000	1,025.73000	1,025.72730	1,017.90990	04:55 PM
2,120	VES	36.26120	36.34220	36.34216	36.26125	08:00 PM
2,212	UGX	3,771.15000	3,855.37000	3,855.36757	3,771.14838	07:19 AM
2,213	TZS	2,592.99000	2,593.01000	2,593.01500	2,592.98500	07:44 AM

Data is delayed by 20 minutes

EQUITY

Name	High	Current	Low	Change	% Change	Volume	Value	DateTime
KSE100	72,414.33	72,051.892	71,467.02	692.487	0.970	324,513,222.0	15,826,554,117.260	24/04/2024 04:13 PM
ALLSHR	47,375.82	47,172.817	46,960.12	306.944	0.655	599,296,643.0	24,458,132,413.340	24/04/2024 04:13 PM
KSE30	23,944.85	23,807.818	23,586.59	240.962	1.023	111,127,951.0	11,140,196,445.780	24/04/2024 04:13 PM
KMI30	121,905.06	121,162.457	119,802.31	1,486.525	1.242	142,025,745.0	9,533,161,297.560	24/04/2024 04:13 PM
KMIALLSHR	33,729.93	33,656.520	33,366.03	337.953	1.014	426,610,117.0	19,046,525,407.830	24/04/2024 04:13 PM
BKTi	18,030.81	17,888.609	17,862.22	36.126	0.202	21,512,241.0	2,556,142,444.850	24/04/2024 04:13 PM
OGTi	17,023.12	16,956.573	16,845.36	87.498	0.519	9,136,075.0	1,278,959,401.370	24/04/2024 04:13 PM

Data is delayed by 20 minutes

COMMODITIES

Name	Symbol	Last	High	Low	Change
BITCOIN FUTURES	BTC	66,505.0	67,120.0	66,110.0	70.00
BRENT CRUDE	EB	88.2	88.9	87.8	-0.20
RICHARDS BAY COAL MONTHLY	EF	105.5	0.0	0.0	-2.10
ROTTERDAM COAL MONTHLY	ET	120.0	0.0	0.0	1.10
USD RBD PALM OLEIN	POL	832.5	832.5	832.5	0.00
CRUDE OIL – WTI	QCL	83.1	83.7	82.7	-0.30
SUGAR #11 WORLD	SB	19.6	19.7	19.5	-0.05

To see more commodities please register for our portal

Top 5 things to watch in this week

Charts

KSE100 (Last)

KSE100 (Volume)

KSE100 (Last)

KSE100 (Volume)

MPS Preview: High for Longer

Trending :

Systems Limited’s profits jump by 71% despite significant rise in finance and tax expense

Top 5 things to watch in this week

Charts

Stay Connected

Read Next

Domestic gold rally cools, price falls Rs1,700 per tola to Rs250,200

MG Morning Breeze: Updates to Skim before Market

Pakistan applauds AIIB’s $500m boost for infrastructure projects

PSX Closing Bell: Riding the Waves