Tuesday, August 16, 2022
HomeEquitySystems Ltd's strengthened profits reflect improved performance

Systems Ltd’s strengthened profits reflect improved performance

October 26, 2018 (MLN): Notable rise in topline earnings of Systems Ltd. (SYS) lifted the profits of the company by nearly 52% during the nine months ended September 30, 2018, as the company’s topline-gains increased by 38.69% or about Rs1 billion.

According to the financial results issued by the company, administrative cost increased by 42%, and distribution cost surged by 55%.

A more impactful change was witnessed in finance cost and taxation expenses which both grew by 121.52% and 87.54% respectively.

Yet, the company managed to make it through with substantial gains in profits.

Moreover, the basic and diluted earnings per share have been recorded at Rs.6.10 per share, while during the corresponding period of last year, earning per share stood at Rs.4.05 per share.

Consolidated Profit and Loss account for the nine months ended September 30th 2018 (Rupees)

 

Sep-18

Sep-17

% Change

Revenue – net

                          3,698,191,552

                          2,666,502,392

38.69%

Cost of sales

                          2,693,989,995

                          1,883,678,717

43.02%

Gross profit

                          1,004,201,557

                              782,823,675

28.28%

Distribution cost

                                97,482,786

                                62,846,211

55.11%

Administrative expenses

                              364,841,504

                              256,599,072

42.18%

Other operating expenses

                                45,427,766

                                46,232,319

-1.74%

Other income

                              211,244,410

                                43,440,116

386.29%

Operating profit

                              707,720,911

                              460,586,189

53.66%

Finance cost

                                16,355,956

                                   7,383,565

121.52%

Profit before taxation

                              691,364,954

                              453,202,624

52.55%

Taxation

                                16,479,136

                                   8,786,982

87.54%

Profit after taxation

                              674,885,818

                              444,415,642

51.86%

Earnings per share – basic

                                             6.10

                                             4.05

50.62%

 

Copyright Mettis Link News

Posted on: 2018-10-26T11:28:00+05:00

23897

RELATED ARTICLES
- Advertisment -

Most Popular