Board of Directors of the NetSol Technologies Limited in its recent meeting has elected, Naeem Ullah Ghauri its Chairman. The participants of the meeting also approved the appointment of Salim Ullah Ghauri as Chief Executive Officer of NetSol Technologies.
NetSol continues to invest in its Innovation Lab as its research and development teams continue to work on emerging technologies that have gained much traction in the global finance and leasing industry. These technologies include but are not limited to, Artificial Intelligence, Machine Learning and Big Data. It’s focus is to continue enabling its global clientele to futureproof the finance and leasing operations.
Since the initiation of the pandemic, the operations of industries worldwide have been severely impacted. However, NETSOL Technologies faced the challenging situation impeccably, with the transition to remote working for the majority of its global team and remote deployments of several projects in multiple countries.
During the first quarter of FY2021-22, its sales team continued to chase up qualified leads and make efforts towards acquiring new business and creating new opportunities. NETSOL also continued to maintain its presence in industry-leading events during the first quarter in North American and United Kingdom markets.
The revenue for the quarter ended on September 30, 2021 improved by 12% compared to the revenue posted in the same quarter of previous fiscal year. In absolute numbers, the Company posted net revenue of Rs. 1,252 million compared to Rs. 1,115 million in the same quarter of the last fiscal year.
Company’s profit before tax increased from Rs. 151 million last year to Rs. 219 million in the current quarter. The Company posted a net profit of Rs. 193 million compared to Rs. 127 million last year.
The company planned to heavily promote its cloud version of Ascent. It has no upfront license fees, flexible subscription-based pricing options and rapid deployments. Ascent on the Cloud empowers finance and leasing companies with a flexible and highly scalable platform that accelerates their business growth.
Ascent on the Cloud enables financial institutions to gain access to the same premier, next-generation platform. It is used by blue-chip organizations and Fortune 500 companies worldwide. Moving forward, we will continue to offer our premier product on the Cloud across all regions.
