NetSol Pakistan has registered solid growth during the third quarter, as it reported revenues of Rs 616.62 million, a 25.44 increase compared to Rs 491.57 million reported in the same period of 2009-10. The gross profit rose 21.42 percent to Rs 397.50 million in contrast with Rs 327 million in the corresponding period.
In addition, a slight increase in cost of sales of NetSol PK in third quarter of 2010-11 to 35.50 percent of revenue was seen as against 33.40 percent in the last fiscal. Consequently, gross margin reduced to 64.50 percent compared to 67 percent in the corresponding fiscal’s quarter.
Moreover, the company’s net profit margin improved significantly, approaching 48 percent compared to an achievement of 45 percent a year ago. Diluted earnings per share trended upward to Rs 3.68 per share compared to Rs 2.90 per share reported in the corresponding period of 2009-10.
