Systems Limited reported an 8.8% drop in after-tax profits for Q3 2024, amounting to Rs1.74 billion, even though its revenue increased by 11.37% to Rs9.87 billion. The higher cost of sales, which rose by 23%, affected the company’s gross profit, reducing it to Rs2.62 billion.
Despite these challenges, there has been positive growth in the European and MEA (Middle East and Africa) markets, indicating signs of recovery. A notable 87% of the company’s sales now come from exports, showing its growing presence in international markets.
To address rising inflation, Systems Limited is focusing on cost optimization and negotiating better rates. The company’s strategic partnerships, particularly with Microsoft, are positioning it well for future growth as it shifts its focus toward offering AI as a Service.
