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

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">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.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">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).</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Lower than expected result was due to lower than expected sales and gross margins.</span></li></ul><p></p>