Karachi February 14 2022: NetSol Technologies Limited reported loss of PKR 162 million in quarter ended December 2022 due decline in exports, according to company filing to the Pakistan Stock Exchange.
Share price of the company hit lower limit after the announcement and decline by PKR 6.24 or 7.5 percent at Pakistan Stock Exchange.
NetSol Technologies Limited revenue for the quarter ended December 31, 2022 declined by 2% compared to the revenue posted in the same quarter of previous fiscal year.
Gross margins of the company plunged 26 percentage points to 20.8 percent in 2nd quarter due to higher cost and lower exports.
In absolute numbers, the Company posted net revenue of PKR 1,682 million compared to PKR 1,713 million in the same quarter of last fiscal year.
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