Lahore: In a recent board meeting held on September 12, 2024, NetSol Technologies Limited outlined several key financial declarations and results for the fiscal year ending June 30, 2024. The board of directors recommended a final cash dividend of Rs. 3.00 per share, which amounts to a 30% dividend. This dividend is in addition to any interim dividends that have already been distributed.
The financial performance of NetSol Technologies has shown notable improvements over the previous year. The company reported a net revenue of 9.28 billion rupees from contracts with customers for the fiscal year 2024, compared to 7.67 billion rupees in 2023. This marks a substantial growth in their operational activities. According to information available from the Pakistan Stock Exchange (PSX), the gross profit stood at 4.16 billion rupees, up from 2.26 billion rupees reported the previous year.
The company's operational expenses, including selling and promotional expenses, amounted to 855.32 million rupees, while administrative expenses reached 1.42 billion rupees. The consolidated operational profit for the year was calculated at 1.89 billion rupees, a significant increase from the mere 234.79 million rupees in 2023.
Additionally, NetSol Technologies reported other incomes totaling 674.01 million rupees and a net profit for the year at 1.38 billion rupees. The earnings per share also saw an increase, with basic earnings rising from 14.63 to 15.76.
The Annual General Meeting (AGM) of NetSol Technologies is scheduled to be held on October 18, 2024, in Lahore. The Share Transfer Books of the company will be closed from October 12 to October 18, 2024, to determine the entitlements of the shareholders. Shareholders registered by the close of October 11, 2024, will be eligible for the dividend.
In preparation for the AGM, the Annual Report of the Company will be made available through PUCARS at least 21 days before the meeting.