The income of NetSol Technologies Limited (Pakistan) year on year basis for the third quarter of the 2007-08 financial year has been increased by 62.3 percent to Rs 154 million as compared to Rs 94 million of the corresponding period of the last year.
The financial results, announced by NetSol Technologies, a significant division of NetSol Technologies, Inc (NASDAQ: NTWK) servicing the Asia-Pacific region, on Wednesday revealed that the gross profit of the company had been increased by 29.3 percent to Rs 194.132 million (3.08 million), as compared to Rs 150.127 million (2.47 million) reported in the third quarter of 2007 fiscal year.
The revenue for the reporting period has also jumped by 17.1 percent to Rs 325.973 million (5.19 million), which represents a 17.1 percent as compared to Rs 278.382 million (4.58 million) of the corresponding period of the last year.
NetSol PK reduced its cost of sales in the quarter to 40.5 percent of revenue as compared to 46.1 percent in the fiscal third quarter of 2007. As a result, gross margin improved to 59.6 percent as compared to 54.0 percent in the corresponding quarter of last year.
Moreover, the company's net profit margins improved significantly, approaching 47.0 percent, as compared to 33.9 percent achieved in the same period a year ago. Diluted earnings per share trended upward to Rs 2.56 per share (0.04 per share), as compared to Rs 1.58 per share (0.025 per share) reported in the corresponding quarter of 2007 fiscal year.
On the financial results of the third quarter of 2007-08, NetSol Technologies Limited Chairman and Chief Executive Officer Salim Ghauri said NetSol Pak closed several significant deals in the captive finance sector of Asia-Pacific region this quarter. "Our recent stream of contract wins demonstrates that NetSol Pak continues to generate significant interest and demand for its products and services in the Asia-Pacific region, and our business pipeline gives us a strong foundation for future growth," he added.
Comments
Comments are closed.