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 3Q2024 result wherein it posted a consolidated PAT of Rs2.19bn (EPS of Rs7.51) up by 18% YoY and by 31% QoQ. The result came higher than expectations mainly due to higher than expected gross margins.</li><li>Gross margins for 3Q2024 clocked in at 25% vs 22% in 2Q2024 and 28% in 3Q2023. Higher gross margins on a QoQ basis are due to improvement in margins from Middle East, North America and Pakistan segment.</li><li>Middle East, North America and Pakistan segment gross margins for 3Q2024 stood at 26%, 34% and 7% compared to 21%, 33% and -5% in 2Q2024.</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 3Q2024 result wherein it posted a consolidated PAT of Rs2.19bn (EPS of Rs7.51) up by 18% YoY and by 31% QoQ. The result came higher than expectations mainly due to higher than expected gross margins.Gross margins for 3Q2024 clocked in at 25% vs 22% in 2Q2024 and 28% in 3Q2023. Higher gross margins on a QoQ basis are due to improvement in margins from Middle East, North America and Pakistan segment.Middle East, North America and Pakistan segment gross margins for 3Q2024 stood at 26%, 34% and 7% compared to 21%, 33% and -5% in 2Q2024.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): 3Q2024 EPS at Rs7.51, up by 18% YoY - Earnings higher than expectations