NetSol PK subsidiary Q3 revenue up 8% but net profit plunges to PKR 64M from PKR 1,404M YoY

NETSOL TECHNOLOGIES INC

2024-Q3 EPS reported $0.07 revenue$44,944,638

Revenue rose to PKR 2,247M (Q3 FY24) from PKR 2,079M (Q3 FY23), +8% YoY.
Gross profit improved to PKR 989M from PKR 695M, +42% YoY.
Net profit collapsed to PKR 64M (EPS PKR 0.72) from PKR 1,404M (EPS PKR 15.98) due to PKR 265M FX loss vs PKR 1,401M FX gain.
Results are for NetSol PK subsidiary only; not representative of consolidated NetSol Technologies, Inc.

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 quarter ended March 31, 2024 results: revenue PKR 2,247 million, net income PKR 64 million, EPS PKR 0.72 per diluted share.

Period: quarter ended March 31, 2024
Revenue: PKR 2,247 million
Net income: PKR 64 million
EPS: PKR 0.72 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., today announced financial results for the quarter ended March 31, 2024. Financial Highlights Q3, 2023-24 ● Company posted revenues of PKR 2,247 million compared to PKR 2,079 million in corresponding quarter of last fiscal year ● Gross profit remained at PKR 989 million compared to PKR 695 million in the corresponding period ● Company reported a net profit of PKR 64 million compared to PKR 1,404 million last year

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Source: SEC EDGAR

accession 0001493152-24-017210

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