NetSol Technologies Limited’s financial results for the year ended 30-06-2011

Karachi: This is to inform you that the Board of Directors of our company in their meeting held on September 09, 2011 at 03:00 p.m. approved the following financial results of the company for the year ended June 30, 2011.

Consolidated Financial Results of NetSol Group (NETSOL).

 

For the Year ended

30-06-2011

30-06-2010

Rupees in ’000′

Revenue2,058,4652,031,256
Cost of revenue (825,741)(665,346)
——————
Gross profit1,232,7241,365,910
Selling and promotion expenses(143,439) (96,780)
Administrative expenses(343,958) (235,261)
Other operating expenses (17,322) (39,193)
Other Income107,2609,840
 ——————
Operating profit835,2651,004,516
Finance cast (23,603) (24,641)
——————
Profit before taxation811,662979,875
Taxation
Current year (2,524)(3,448)
Prior year -805
 ——————
 (2,524) (2,643)
——————
Profit after taxation for the year809,138977,232
Attributable to:
Equity holders of parent765,936964,679
Non-controlling Interest43,20212,553
 ——— ———
809,138977,232
Earning per Share
Basic -in Rupees 9.8312.38
——————
Diluted-in Rupees 9.7912.38

 

Financial Results of NetSol Technologies Limited

 

For the Year ended

30-06-2011

30-06-2010

Rupees in ’000′

Revenue1,811,3751,845,022
Cost of revenue (674,188)(529,631)
——— ———
Gross profit1,137,1871,315,391
Selling and promotion expenses(143,439) (96,780)
Administrative expenses(338,039)(229,949)
Other operating expenses (15,551) (37,709)
Other income181,26528,204
 ——— ———
Operating profit821,423 979,157
Finance cost(25,422) (24,796)
——— ———
Profit before taxation795,001954,361
Taxation
Current year(2,313)(3,302)
Prior year -805
 ——————
(2,313)(2,497)
——————
Profit after taxation for the Year793,688951,864

 

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

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

The Annual General Meeting or the Company will be held on Tuesday October 25, 2011 at 12:00 noon at Registered Office, NetSol Technologies Limited, NetSol IT Village (Software Technology Park) Netsol Avenue, Main Ghazi Road, Lahore Cantt.

The Share Transfer Books of the Company will remain closed from October 19, 2011 to October 25, 2011 (both day inclusive). Transfers received at M/S Vision Consulting Ltd., 3-C, LDA Flats, Lawrence Road, Lahore. (Tel: + 92 42 36375531, 36375339 Fax: +92 42 36374839) at the close of business on October 18, 2011 will be treated in time for the purpose of above entitlement to the transferees.

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

For more information, contact:
Salim Ullah
Chief Executive
NetSol Technologies Limited
43/1/Q, Amna Villa 1,
Block-6, PECHS, Karachi
Tel: (92-21) 111-636-785
Fax: (92-21) 34313484
E-mail: info@netsol.com
Website: www.netson.com