NETSOL earns Rs1.38bn in FY24, declares Rs3 DPS

News Image

By MG News | September 12, 2024 at 03:28 PM GMT+05:00

0:00

September 12, 2024 (MLN): NetSol Technologies Limited (PSX: NETSOL) reported a modest increase in earnings for FY24, with a rise of 7.7%, reaching Rs1.38 billion (EPS: Rs15.76) compared to Rs1.29bn (EPS: Rs14.63) in the same period last year.

The Board of Directors of the company has declared a final Cash Dividend for the year ended June 30, 2024 at Rs3 per share.

Going by the results, the company's top line marked an increase of 21% to Rs9.28bn as compared to Rs7.67bn in SPLY.

Conversely, the cost of sales decreased by 5.4%, and combined with the rise in sales, this led to an 84.1% increase in gross profit, which reached Rs4.16bn in FY24.

Accordingly, the gross margins improved to 44.9% as compared to 29.5% in SPLY.

On the expense side, the company reported rise in all its sub heads with administrative expenses rising 4.7% YoY to Rs1.42bn, selling and promotional expenses increasing 27.7% YoY to Rs855.32m, and other operating expenses surging 26.6% YoY to Rs692.88m.

Further narrowing the impact of sales growth on the bottom line was a 66.5% drop in other income, which amounted to Rs674.01m in FY24.

The company’s finance cost grew by 64.8% and stood at Rs313.78m as compared to Rs190.36m in SPLY, mainly due to higher interest rates.

On the tax front, the company paid a lower tax worth Rs170.51m against the Rs192.51m paid in the corresponding period of last year, depicting a decrease of 11.4%.

Unconsolidated (un-audited) Financial Results for year ended June 30, 2024 (Rupees in '000)
  Jun 24 Jun 23 % Change
Sales 9,280,647 7,670,181 21.00%
Cost of sales (5,116,773) (5,408,017) -5.39%
Gross Profit/ (loss) 4,163,874 2,262,164 84.07%
Administrative Expenses (1,421,243) (1,357,653) 4.68%
Selling and promotional expenses (855,316) (669,724) 27.71%
Share of loss of associate 0 (33,687) -
Other Income 674,012 2,014,239 -66.54%
Other Operating Expenses (692,880) (547,234) 26.61%
Finance Cost (313,783) (190,362) 64.83%
Profit/ (loss) before taxation 1,554,664 1,477,743 5.21%
Final tax / levies (170,505) (192,509) -11.43%
Net profit/ (loss) for the period 1,384,159 1,285,234 7.70%
Basic earnings/ (loss) per share 15.76 14.63 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,344.03
345.79M
1.67%
2144.61
ALLSHR 81,023.99
1,021.87M
1.55%
1236.37
KSE30 39,908.26
141.62M
2.05%
803.27
KMI30 189,535.00
150.29M
1.40%
2619.39
KMIALLSHR 54,783.66
508.76M
1.07%
581.78
BKTi 34,940.73
55.86M
4.37%
1464.05
OGTi 28,296.06
16.02M
1.19%
333.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,630.00 110,105.00
109,405.00
-655.00
-0.59%
BRENT CRUDE 68.51 69.00
68.49
-0.60
-0.87%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.20 110.00
108.25
1.70
1.58%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.88 67.50
66.86
-0.57
-0.85%
SUGAR #11 WORLD 15.56 15.97
15.44
-0.14
-0.89%

Chart of the Day


Latest News
July 03, 2025 at 06:01 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 02, 2025 at 11:05 PM GMT+05:00

Cement sales flat in FY25


July 02, 2025 at 10:50 PM GMT+05:00

SBP reserves cross $14bn mark in FY25


July 02, 2025 at 05:29 PM GMT+05:00

CDNS revises profit rates on savings schemes


July 02, 2025 at 05:05 PM GMT+05:00

PSX in FY25: From Oof to Boom



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg