Form 8-K - Current report
27 Oktober 2023 - 3:00PM
Edgar (US Regulatory)
false
0001039280
0001039280
2023-10-27
2023-10-27
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): October 27, 2023
Commission
file number: 0-22773
NETSOL
TECHNOLOGIES, INC.
(Exact
name of small business issuer as specified in its charter)
| nevada |
|
95-4627685 |
| (State
or other Jurisdiction of |
|
(I.R.S.
Employer NO.) |
| Incorporation
or Organization) |
|
|
16000
Ventura Blvd., Suite 770, Encino, CA 91436
(Address
of principal executive offices) (Zip Code)
(818)
222-9195 / (818) 222-9197
(Issuer’s
telephone/facsimile numbers, including area code)
Securities
registered pursuant to Section 12(b) of the Act:
| Title
of each Class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
| Common
Stock, $.01 par value per share |
|
NTWK |
|
NASDAQ |
Item
2.02 Results of Operations and Financial Condition.
On
October 27, 2023, NetSol Technologies, Inc.’s Pakistani subsidiary, NetSol Technologies, Ltd. posted the results of operations
and financial conditions for first quarter ended September 30, 2023. The results are posted on the Pakistan Stock Exchange. These results
represent only the results of one subsidiary of NetSol Technologies, Inc. and are not representative of the results of the NetSol Technologies,
Inc. on a consolidated basis.
The
information in this report shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated
by reference into any registration statement or other document field under the Securities Act of 1933, as amended, or the Exchange Act,
except as shall be expressly set forth by specific reference in such filing.
Exhibits
SIGNATURES
In
accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
| |
|
NETSOL
TECHNOLOGIES, INC. |
| |
|
|
| Date: |
October
27, 2023 |
/s/
Najeeb Ghauri |
| |
|
NAJEEB
GHAURI |
| |
|
Chief
Executive Officer |
| |
|
|
| Date: |
October
27, 2023 |
/s/
Roger Almond |
| |
|
ROGER
ALMOND |
| |
|
Chief
Financial Officer |
EXHIBIT 99.1
NetSol Technologies Limited
Pakistan, (“NetSol PK”), a majority owned subsidiary of NetSol Technologies, Inc. servicing the Asia-Pacific region, announced
financial results for the quarter ended September 30, 2023.
Financial Highlights
Q1, 2023-24
| |
● |
Net revenues increased to PKR 2,256 million compared to PKR 1,716 million in corresponding quarter of last fiscal year |
| |
|
|
| |
● |
Gross profit increased to PKR 901 million versus PKR 476 million in the same period of last fiscal year |
| |
|
|
| |
● |
Company posted a net profit of PKR 272 million or a profit of PKR 3.09 per diluted share compared to PKR 191 million last year or PKR 2.17 per diluted share |
Company posted revenues of PKR 2,256 million for the
quarter ended September 30, 2023 compared with PKR 1,716 million in same quarter of last year. Gross profit clocked at PKR 901 million
compared to PKR 476 million in the corresponding period. The Company posted a net profit after tax of PKR 272 million or a profit of PKR
3.09 per diluted share in comparison of PKR 191 million or PKR 2.17 per diluted share in the same quarter of fiscal year 2023.
v3.23.3
Cover
|
Oct. 27, 2023 |
| Cover [Abstract] |
|
| Document Type |
8-K
|
| Amendment Flag |
false
|
| Document Period End Date |
Oct. 27, 2023
|
| Entity File Number |
0-22773
|
| Entity Registrant Name |
NETSOL
TECHNOLOGIES, INC.
|
| Entity Central Index Key |
0001039280
|
| Entity Tax Identification Number |
95-4627685
|
| Entity Incorporation, State or Country Code |
NV
|
| Entity Address, Address Line One |
16000
Ventura Blvd.
|
| Entity Address, Address Line Two |
Suite 770
|
| Entity Address, City or Town |
Encino
|
| Entity Address, State or Province |
CA
|
| Entity Address, Postal Zip Code |
91436
|
| City Area Code |
818
|
| Local Phone Number |
222-9195
|
| Title of 12(b) Security |
Common
Stock, $.01 par value per share
|
| Trading Symbol |
NTWK
|
| Security Exchange Name |
NASDAQ
|
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