Corporate Result: NetSol gross profit shrinks by 20% in 3QFY20

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NETSOL Technologies Limited (PSX: NETSOL) announced the Financial Results for the year ended December 31, 2019 in which the company declared the Net Loss of Rs. 50.07 Mn (LPS: Rs. 0.65) . The company also announced the Earning Per share of Rs. 9.55 which was Rs. 10.23 for the last corresponding same year.

Whereas, the company declared the Profit After Tax worth Rs. 201.8 Mn that is increased by 6% annually. The company also announced the Earning Per share of Rs. 2.24 for the Quarter ended March 31, 2020.

Furthermore, the Net Sales/Revenue of the company were slightly increased by 7.6% to Rs. 3.74 Bn from the last year sales. The company Gross Profit also declined by 20% to Rs. 1.28 Bn from the last year.

Whereas, the Other income of the company was declined by 65% to Rs. 154.4 Mn YoY basis.

However, the Finance cost of the company was increased by 19% and recorded at 34.7 Mn during the corresponding year, which was Rs. 29.3 Mn in the last year.

NETSOL – 3rd Quarter

Quarter ended

EPS 2020 = 2.24 PKR
EPS 2019 = 2.10 PKR

Nine Months Ended

LPS 2020 = (0.65) PKR
EPS 2019 = 9.63 PKR