Systems Limited reported profited Rs1.74 billion for 2024
Systems Limited reported an 8.8% YoY decline in after-tax profits, totaling Rs1.74 billion for Q3 2024, despite an 11.37% rise in revenue to Rs9.87 billion.
The increase in cost of sales, up 23%, impacted gross profit, which fell to Rs2.62 billion. Encouraging growth in European and MEA segments highlights recovery, while 87% of sales now come from exports.
The firm is optimizing costs and negotiating rates to combat rising inflation. Strategic partnerships, notably with Microsoft, position Systems Limited for future success as it shifts toward AI as a Service. The company is well-equipped for consistent growth in the coming quarters.
