Lahore-based software giant has had a great year. Latest financial results (unconsolidated) released to the PSX today showed that NetSol Technologies reported a consolidated after-tax profit of Rs. 1.22 billion, up by a massive 270.82% for the nine months that ended on March 31st, 2018, as compared to a profit of just Rs. 329 million in the same period last year.
One of Pakistan’s most prominent software houses, NetSol Technologies Limited (PSX: NetSol), has been around for a while. The Lahore-based firm derives a majority of its revenues from overseas, mainly from four to five countries in the Asia-Pacific (APAC) region.
The earnings per share of the company increased to Rs 13.67 as compared with Rs 3.69 in the same period of the previous year.
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The company’s revenue increased by merely 3.85% as compared to last year as the gross profit saw an increase of 36.84% to Rs 1.56 billion.
The company was able to more than double its bottom line in the period, besides significantly improving its operating and net margins compared to the same period last year.
The handsome gains on foreign exchange translation helped bloat ‘other income’ and minimize ‘other expenses’ during the period as the other income saw an increase of 431.73% to Rs 553 million as compared with Rs 104 million in the corresponding previous year.
Netsol’s script at the bourse closed at Rs 84.12, which hit its upper circuit breaker of 5% after the announcement of the result with 2.36 million shares traded.
NetSol Technologies, Inc. designs, develops, markets, and exports software products to the automobile financing and leasing, banking, and financial services industries worldwide.
The firm’s majority shareholding rests with the NetSol Technologies, Inc, which has offices in Pakistan, USA, UK, China, Australia and Thailand.
Yet they gave worst possible increments to those who worked extended hours, worked over the weekends and are real reason behind all this success. What a shame!!
Do you know people got nill to 4%, 5% increments in this year! Where as inflation is at 20% and above. Everyone in this country exploits the situation for their personal gains. Why to only blame the corrupt politicians!
well you people choose to work for pakistani middlemen when you can work directly for foreigners and earn dollars so in a way you are begging to be exploited.
inflation wasn’t 20% btw. at least not in the past year. it’ll probably hit double digits this year due to the rupee devaluation.
If you are not happy with Netsol policy, just leave it. During my 5 years tenure I got excellent promotions, and I was happy with my company. Still I have great respect for Netsol. If you did not explore the world, just try it. Salary is nothing at all, Why you are ignoring all other benefits that hardly can be provided any company (esp in LHR in ISB)
well, after-all they have that notorious greedy blood running through their veins….be it a thaley wala or a company or a politician, we as a nation are pathetic…..from top to bottom & from bottom to top…everyone needs to change themselves individually.