NETSOL profits jumped 352% in FY22

MG News | September 27, 2022 at 10:17 AM GMT+05:00

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September 27, 2022 (MLN): NETSOL on Tuesday announced results for FY22 wherein the company reported an increase of 352.07% in profit after tax to Rs872million, filings on the stock exchange showed.

The company’s other income jumped by 598% to Rs1.07billion against Rs154mn in FY21.

As a result, the company’s profit after taxation clocked in at Rs872mn against Rs193mn in FY21, translating into earnings per share of Rs9.73 against Rs2.15 in FY21.

The company’s topline jumped by 25.02% to Rs6.18billion against Rs4.95bn in FY21 supported by the exchange rate depreciation as the company's revenues are predominantly dollar-based.

Gross profit clock in at Rs2.08bn against Rs1.80bn in FY21.

In FY22, profit before taxation was up by 284.42% to Rs1.01bn against Rs263mn in FY21.

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