Systems Ltd states profits of over Rs 2 billion for CY20
MG News | March 04, 2021 at 10:50 AM GMT+05:00
March 4, 2021 (MLN): Systems Limited has reported earnings of Rs. 2.16 billion (EPS: 17.78) for the year ended December 31, 2020, i.e. around 38% higher as compared to the earnings of last year.
The company paid a final cash dividend for the year at Rs. 3.5/-per share i.e. 35%. Moreover, the Board of Directors recommended to issue Bonus Shares in the proportion of 1 share(s) for every 10 share(s) held i.e. 10%.
The company posted revenues of Rs. 9.87 billion for the year, i.e. up by 31% on account of higher maintenance contracts. The company also benefitted from higher exports owing to a viable exchange rate.
While the company performed decently with respect to sales, it failed to control major costs as S&D and Administrative expenses increased by 13% and 3.4%, respectively.
The finance costs increased by nearly 42% due to higher working capital requirement.
|
Consolidated Profit and Loss account for the year ended December 31, 2020 (Rupees) |
|||
|---|---|---|---|
|
Dec-20 |
Dec-19 |
% Change |
|
|
Revenue from contracts with customers |
9,876,827,710 |
7,535,648,069 |
31.07% |
|
Cost of sales |
(6,619,640,203) |
(5,166,301,606) |
28.13% |
|
Gross profit |
3,257,187,507 |
2,369,346,463 |
37.47% |
|
Selling and distribution expenses |
(201,024,729) |
(178,002,387) |
12.93% |
|
Administrative expenses |
(722,310,556) |
(698,066,995) |
3.47% |
|
Other operating expenses |
(220,135,525) |
(163,532,016) |
34.61% |
|
Other income |
235,201,038 |
318,491,575 |
-26.15% |
|
Finance cost |
(66,659,676) |
(47,022,121) |
41.76% |
|
Profit before taxation |
2,282,258,059 |
1,601,214,519 |
42.53% |
|
Taxation |
(117,960,376) |
(33,281,698) |
254.43% |
|
Profit after taxation |
2,164,297,683 |
1,567,932,821 |
38.04% |
|
Earnings per share - basic and diluted |
17.78 |
12.86 |
38.26% |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 134,299.77 290.06M |
0.39% 517.42 |
| ALLSHR | 84,018.16 764.12M |
0.48% 402.35 |
| KSE30 | 40,814.29 132.59M |
0.33% 132.52 |
| KMI30 | 192,589.16 116.24M |
0.49% 948.28 |
| KMIALLSHR | 56,072.25 387.69M |
0.32% 180.74 |
| BKTi | 36,971.75 19.46M |
-0.05% -16.94 |
| OGTi | 28,240.28 6.19M |
0.21% 58.78 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 118,140.00 | 119,450.00 115,635.00 |
4270.00 3.75% |
| BRENT CRUDE | 70.63 | 70.71 68.55 |
1.99 2.90% |
| RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
1.10 1.14% |
| ROTTERDAM COAL MONTHLY | 108.75 | 108.75 108.75 |
0.40 0.37% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
| CRUDE OIL - WTI | 68.75 | 68.77 66.50 |
2.18 3.27% |
| SUGAR #11 WORLD | 16.56 | 16.60 16.20 |
0.30 1.85% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|