Netsol Technologies Limited’s financial results for the half year ended 31-12-2011

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Karachi: This is to inform you that the Board of Directors of our company in their meeting held on January 30, 2012 at 03:00 PM. approved the following financial results of the company for the Half Year ended December 31, 2011.

Consolidated Financial Results of Netsol Group

 

	Quarter Ended		Half Year Ended
	Oct-Dec	Oct-Dec	Jul-Dec	Jul-Dec
	2011	2010	2011	2010
	Rupees in ‘000′		Rupees in ‘000′
Revenue	542,560	549,379	917,804	973,284
Cost of revenue	(230,315)	(200,529)	(451,441)	(357,277)
	——-	——-	——-	——-
Gross Profit	312,245	348,850	466,363	616,007
Selling and promotion expenses	(34,668)	(29,421)	(63,782)	(61,954)
Administrative expenses	(83,327)	(79,206)	(165,293)	(184,005)
Other operating a expenses	(3,610)	(40,442)	(16,338)	(10,693)
Other income	3,367	857	1,394	64,590
	——-	——-	——-	——-
Operating Profit	194,007	200,638	222,344	423,945
Financial cost	(3,496)	(6,623)	(7,590)	(13,572)
	——-	——-	——-	——-
Profit before taxation	190,511	194,015	214,754	410,373
Taxation
Current	(474)	(193)	(912)	(876)
	–	–	(1,698)	–
	——-	——-	——-	——-
	(474)	(193)	(2,610)	(876)
——-	——-	——-	——-
Profit after taxation for the period	190,037	193,822	212,144	409,497
Other comprehensive income	–	–	–	–
	——-	——-	——-	——-
Total comprehensive income for the period	190,037	193,822	212,144	409,497
	——-	——-	——-	——-
Attributable to:
Equity holders of NetSol Technologies Limited	183,520	184,801	190,367	390,129
Non-controlling interest	6,517	9,021	21,777	19,368
	——-	——-	——-	——-
	190,037	193,822	212,144	409,497
	——-	——-	——-	——-
Basic-in Rupees	2.36	2.37	2.44	5.01
	——-	——-	——-	——-
Diluted -in Rupees	2.36	2.37	2.44	4.99

 

Financial Results of Netsol Technologies Limited (NETSOL)

 

	Quarter Ended		Half Year Ended
	Oct-Dec	Oct-Dec	Jul-Dec	Jul-Dec
	2011	2010	2011	2010
	Rupees in ‘000′		Rupees in ‘000′
Revenue	478,486	486,356	774,845	952,576
Cost of revenue	(181,578)	(163,278)	(358,779)	(278,923)
	——-	——-	——-	——-
Gross Profit	296,908	323,078	416,066	573,653
Selling and promotion expenses	(34,668)	(29,421)	(63,782)	(61,954)
Administrative expenses	(81,997)	(77,527)	(162,533)	(181,091)
Other operating expenses	(3,323)	(35,724)	(17,904)	(9,891)
Other Income	4,611	50,173	7,283	112,513
	——-	——-	——-	——-
Operating profit	181,531	230,579	174,130	433,230
Financial cost	(4,217)	(7,622)	(8,572)	(14,926)
	——-	——-	——-	——-
Profit before taxation	177,314	222,957	170,558	418,304
Taxation
Current period	(445)	(142)	(850)	(730)
Prior period	–	–	(1,576)	–
	——-	——-	——-	——-
	(445)	(142)	(2,426)	(730)
	——-	——-	——-	——-
Profit after taxation for the period	176,869	222,815	168,132	417,574
Other comprehensive income	–	–	–	–
	——-	——-	——-	——-
Total comprehensive income for the period	176,869	222,815	168,132	417,574

 

Cash Dividend, Bonus Shares, Right Shares and Other Entitlement:

 

The Board of Directors has not recommended any entitlement in the BOD meeting.

 

We will be sending you 300 copies of printed accounts for distribution amongst the members of the Exchange.

 

Additionally, the financial statements shall also be emailed to the Exchange at aqfs@kse.com in Portable Document Format (PDF) to enable the Exchange to place the same on its website.

 

For more information, contact:
Baoo-Ali Siddiqui
Company Secretary
Netsol Technologies Limited
43/1/Q, Amna Village 1,
Block –6, PECHS, Karachi
Tel: (92 21) 111-838-785
Fax: (92-21) 34313464
Email: info@netsolteach.com
Website: www.netsoltehc.com