NetSol Technologies Profits reported an after-tax profit of Rs. 158 million which is up to 35% higher as compared to profit of just Rs. 117 million in the same period last year. Netsol is also listed on the National Association of Securities Dealers Automated Quotations (Nasdaq).
No cash dividend, bonus or right shares were announced by the company.
Earning per share increased to Rs. 1.59 this quarter as compared to Rs. 1.09 in the same period of last year.
At the end of the quarter, the company’s selling and promotion costs decreased by 20% to Rs. 70 million over the previous quarter and administrative expenses also decreased by 4.22% to Rs. 159 million.
The operating profit increased to Rs. 174 million, up by 39% as compared to last year.
Gross profit for the quarter decreased to Rs. 291 million which is down to 30.88% as compared to last year’s gross profit.
At closing, NetSol’s script was closed at Rs 67.31 up by (4.36%) with a turnover of 0.13 million shares only at the bourse.
The Lahore-based software giant has had a great year in FY17. Latest FY 17 financial results (unconsolidated) in September showed that NetSol Technologies Limited (PSX: NetSol) recorded highest-ever top-line in a year.
NETSOL Technologies, Inc. (NASDAQ:NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global Leasing and Finance industry. 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 for decades.