External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Systems Limited (SYS) announced its 1Q2024 result wherein it posted a consolidated PAT of Rs1.57bn (EPS of Rs5.39) down 60% YoY and up by 2% QoQ. The result came lower than industry expectations.</li><li>Overall on a YoY basis earnings were down by 60% mainly due to absence of exchange gain in 1Q2024 compared as in last quarter company reported hefty exchange gain of Rs2.4bn (reflected in other income account).</li><li>Lower than expected result was due to lower than expected sales and gross margins.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Systems Limited (SYS) announced its 1Q2024 result wherein it posted a consolidated PAT of Rs1.57bn (EPS of Rs5.39) down 60% YoY and up by 2% QoQ. The result came lower than industry expectations.Overall on a YoY basis earnings were down by 60% mainly due to absence of exchange gain in 1Q2024 compared as in last quarter company reported hefty exchange gain of Rs2.4bn (reflected in other income account).Lower than expected result was due to lower than expected sales and gross margins.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Systems Limited (SYS): 1Q2024 EPS at Rs5.39, down by 60% YoY - Earnings below industry expectations