NETSOL TECHNOLOGIES LIMITED
July 02 - July 08, 2007
NetSol Technologies Limited, a wholly owned subsidiary of NetSol Technologies Inc. is a provider of automated and IT enabled solutions catering to businesses across various verticals across the globe. NetSol Technologies, Inc. a developer of proprietary software applications and provider of information technology (IT) services in June 2005 received approval of its prospectus by Karachi Stock Exchange (KSE) to place an IPO of US$6.0 million, which included a US$1.6 million private placement that was finalized in March 2005. Through the company's off-shore information technology operations facilities in Asia, Europe & Australia, NetSol provides a wide range of consulting services and cost-effective development of customized application software. Currently, NetSol has solidified its presence in the Leasing & Assets Hire/Purchase Management vertical through its world class suite of applications - LeaseSoft. In addition to this, NetSol is a multi-dimensional technology company, deriving revenue & customer satisfaction from a variety of information technology (IT) services and custom software offerings including Technology Outsourcing, Systems Integration, Application Development, Processes Consulting, Business Intelligence Consulting, Information Security Consulting among others.
SERVICES OFFERED BY THE COMPANY
NetSol's provides wide array of services across the entire IT spectrum. The main technological services we offer, by category, include:
* Systems Integration
* Technology Outsourcing
* Customized Application Development
* IT Consultancy & BPR
* Information Security
* Business Intelligence
* Software Process Improvement & Quality Engineering
* Products Based Solutions
* Defense Solutions
NetSol LeaseSoft, a suite of three software applications, is an end-to-end solution for the leasing and finance industry. LeaseSoft is designed to be completely malleable in accordance with industry change and trends, and is capable of dealing with multi-asset and multi-lingual environments. Be it wholesale or retail, LeaseSoft provides one stop cost effective and efficient financial solutions. LeaseSoft covers the following sectors: Asset Finance, Consumer Finance, Loan Finance and Motor Finance.
NINE MONTH FINANCIAL RESULTS
The company reported significant growth during the nine month of FY07. The Company reported revenues for the quarter of Rs737 million which represents an increase of 80% against Rs410 million reported for the same period last year. Gross profit in the quarter rose 77% to Rs396 million, against Rs223 million in the nine month period of last fiscal year. Gross margin remained flat at 54% while the Company's net profit margin improved significantly, approaching 34%, compared to 25% achieved in the respective period of last fiscal year. For third quarter of this fiscal year the company reported revenues for the quarter of Rs278.4 million, which represents an increase of 118% against Rs127.8 million reported for the same period last year. Gross profit in the quarter rose 143% to Rs150.1 million, against Rs61.6 million reported in the second quarter of FY 2006. NetSol reduced its cost of sales in the quarter to 46%, which compares to 52% in the third quarter of FY 2006. As a result, gross margin improved to 54% compared to 48% in the corresponding quarter of last year. Moreover, the Company's net profit margin improved significantly, approaching 34%, compared to 19% achieved in the third quarter of FY 2006. The company profitability rose by 146% to Rs.248m (EPS: Rs.6.08) in 9M/FY07 as against Rs.100.85m (EPS: Rs.2.47) in 9M/FY06.
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NetSol Technologies completed is to complete 11 years of operation this year. The decade old journey has witnessed various ups and downs. Netsol has been awarded different Capability, Maturity Model Integration Level 5 in August 2006. In the IT sector NetSol was the very first company to be ISO9001-2000 certified in 1998. Netsol has robust fundamentals and it commands leadership in a number of world market spaces in which it operates. The company is growing rapidly in local as well as international markets and keeping in view the technological advancements the company is expected to perform well in the years to come.