NetSol Technologies Pakistan subsidiary Q1 revenue up 37% YoY; net profit flat

NETSOL TECHNOLOGIES INC

2023-Q1 EPS reported -$0.06 revenue$12,706,119

Subsidiary NetSol PK reported Q1 revenue of PKR 1,716M, up 37% from PKR 1,252M YoY.
Gross profit rose to PKR 476M from PKR 363M, a 31% increase YoY.
Net profit after tax was PKR 191M (PKR 2.17/diluted share), nearly flat vs PKR 193M (PKR 2.15) last year.
These results are for the Pakistani subsidiary only and not representative of consolidated NetSol Technologies, Inc.
Parent company NTWK has not yet reported its own fiscal Q1 results.

item 2.02

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NETSOL TECHNOLOGIES INC reported first quarter ended September 30, 2022 results: revenue PKR 1,716 million, net income PKR 191 million, EPS PKR 2.17 per diluted share.

Period: first quarter ended September 30, 2022
Revenue: PKR 1,716 million
Net income: PKR 191 million
EPS: PKR 2.17 per diluted share
Result: reported results

Exact text from the filing

NetSol Technologies Limited Pakistan, (“NetSol PK”), a majority owned subsidiary of NetSol Technologies, Inc. servicing the Asia-Pacific region, announced financial results for the quarter ended September 30, 2022. Financial Highlights Q1, 2022-23 ● Net revenues increased to PKR 1,716 million compared to PKR 1,252 million in corresponding quarter of last fiscal year ● Gross profit increased to PKR 476 million versus PKR 363 million in the same period of last fiscal year ● Company posted a net profit of PKR 191 million or a profit of PKR 2.17 per diluted share compared to PKR 193 million last year or PKR 2.15 per diluted share

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Source: SEC EDGAR

accession 0001493152-22-030187

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