Karachi April 27 2023: NetSol Technologies Limited (NETSOL) post robust profitability of PKR 1.4 billion in the period from Jan to March 2023 on higher foreign exchange gains, according to company filing to the exchange.
During the period from Jan to March, the topline of the Company grew by 29% compared to the revenue posted in the same period last fiscal year. In absolute numbers, the company reported quarterly revenue of PKR 2,078 million compared to PKR 1,606 million in the preceding year.
The Company posted a net profit after tax of PKR 1.4 billion compared to PKR 164 million in the same quarter last year. Included in net profit is PKR 1,468 million on account of other income which was mainly on the back of currency exchange gain due to depreciation in the Pakistani Rupee compared to other income of PKR 163.8 million in the comparable period.