NetSol Technologies, which is also listed on the National Association of Securities Dealers Automated Quotations (Nasdaq), reported an after-tax profit of Rs 321 million. This year’s profits are up 513% as compared to last year’s profit of just Rs 52 million.
A final cash dividend of Rs 1.45 per share i.e 14.5% was announced in the meeting. No bonus or right shares were announced by the company.
Earning per share increased to Rs 3.58 this year as compared to Rs 0.58 last year.
For FY 17, the company’s selling and promotion costs were up by a staggering 70% to Rs 442 million over the previous financial year, a strong indication that the trend continued well into the second half of FY17.
Gross profit for the fiscal year increased to 1.2 billion which is up to 32.84% as compared to last year’s gross profit.
At the time of filing this report, Netsol’s script was trading at Rs 65 (-2.14%) with a turnover of 7500 shares only at the bourse.
NETSOL Technologies, Inc. (NASDAQ:NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global Leasing and Finance industry.. NFS, LeasePak, LeaseSoft or NFS Ascent – help companies transform their Finance and Leasing operations, providing a fully automated asset-based finance solution covering the complete leasing and finance lifecycle. It is regarded as one of the most successful software development firms emanating from the nation.
It also has a vast roster of clients, including significant presence in China, Japan, Croatia, Thailand, and Australia. Many large automobile manufacturing firms have been loyal clients of NetSol for decades.
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