This is First Pakistani IT Company to Cross Rs. 100 Billion Market Capitalization
Systems Limited becomes first Pakistani technology company to cross a market value of Rs. 100 billion. As of now, the company’s share price is Rs. 740.93 hence making a market capitalization of Rs. 102 billion.
As per the report, Despite the pandemic and economic fluctuations, it has been a great run for the Systems Group. Reflecting a 40% expansion during the year, holding company, Systems Limited was the top performer recording Rs. 7.5 billion in revenue. Systems fetched around 76% of the consolidated net revenue in 2020, which was 5% higher than CY19. The cost of revenues also surged by 28%, standing at Rs. 6.6 billion during the year under review. The revenue growth is contributed by both the company and its subsidiaries, and a significant increase in profits was driven by topline growth.
We are so excited to share that #SystemsLimited has done it again!
We are the FIRST tech company in Pakistan to cross 100 billion rupees market capitalization.
— Systems Limited (@SystemsLtd) September 1, 2021
Pakistani IT company Systems Limited’s export business in Europe, North America, and the Middle East has increased substantially over this year. There was a huge demand for digital transformation and secure data communication, especially in the retail, finance, and telecommunication sector. Regardless of the imminent economic effects in the market due to the global pandemic, Systems performed well and Asif Peer, CEO Systems Limited, is staying optimistic for the company’s future.
While elaborating on how pandemic has compelled businesses to undergo digital transformation, Asif Peer said that Systems was ahead of the curve already serving its clientele with well-poised and advanced technological solutions.
Emphasizing the way forward, Asif Peer highlighted that Pakistani IT company Systems Limited is aggressively focused on technologies around Digital, Data, and Cloud. Receiving positive traction from global and future markets as Systems made a successful entry into Europe, Asif Peer is confident in the company’s ability to sustain and maintain a high-growth trajectory.