Systems Limited Makes Over Rs. 2 Billion in Profits in 2020

Systems Limited has made a handsome profit of Rs. 2.16 billion in 2020, which is 38 percent higher than 2019, which stood at Rs. 1.56 billion.

The Earnings per Share (EPS) increased 38 percent, clocking in at Rs. 17.66.

During 2020, the company earned revenues of Rs. 9.87 billion, which is 31 percent higher than the revenue of the last year. The cost of revenues also surged by 28 percent to stand at Rs. 6.6 billion during the period under review.

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The revenue growth is contributed by both the company and its subsidiaries, and rigorous controls on costs helped it flow through to the bottom line, according to the financial report released to Pakistan Stock Exchange (PSX).

The increase in profits for the period is primarily driven by topline growth, led by the North American and Europe Segment, which can be seen in the segment performance. This growth has been achieved without significant addition to headcount by optimization and efficient utilization of the existing resource.

Pakistan’s IT companies have been proactive since the last year tapping into the emerging opportunities of businesses that took a transformation after the COVID-19 pandemic spread across the world.

The local IT industry achieved exports of over $1 billion in merely seven months of the financial year and likely to touch a mark of $2 billion with the increasing export orders from the various foreign markets.

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Future Outlook

Systems Limited is in the planning phase for the next three years and sees robust opportunities for its services as the world emerges from the COVID-19 pandemic.

The company is aggressively running sales campaigns focused on three technologies that are in high demand, i.e., Digital, Data, and Cloud.

The company is getting positive traction from global and local markets with a healthy pipeline of future opportunities.

Having made a successful entry into the European market, the company plans to strengthen and grow in this geography. The company continues to invest in strengthening its Human Resource and is recruiting experienced talent in line with its plans.