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OTHER COMPREHENSIVE INCOME AND FOREIGN CURRENCY
 3 Months Ended
Sep. 30, 2024
Other Comprehensive Income And Foreign Currency  
OTHER COMPREHENSIVE INCOME AND FOREIGN CURRENCY

NOTE 5 – OTHER COMPREHENSIVE INCOME AND FOREIGN CURRENCY

 

The following table represents the functional currencies of the Company and its subsidiaries:

 

The Company and Subsidiaries  Functional Currency
    
NetSol Technologies, Inc.  USD
NTA  USD
Otoz  USD
NTE  British Pound
AEL  British Pound
VLSH  British Pound
VLS  British Pound
VLSIL  Euro
NetSol PK  Pakistan Rupee
Connect  Pakistan Rupee
NetSol Innovation  Pakistan Rupee
NetSol Thai  Thai Bhat
Otoz Thai  Thai Bhat
Australia  Australian Dollar
Namecet  AED
NetSol Beijing  Chinese Yuan
Tianjin  Chinese Yuan

 

 

NETSOL TECHNOLOGIES, INC.

Notes to Condensed Consolidated Financial Statements

September 30, 2024

(Unaudited)

 

Assets and liabilities are translated at the exchange rate on the balance sheet date, and operating results are translated at the average exchange rate throughout the period. Accumulated translation losses classified as an item of accumulated other comprehensive loss in the stockholders’ equity section of the consolidated balance sheet were $46,049,023 and $45,935,616 as of September 30, 2024 and June 30, 2024, respectively. During the three months ended September 30, 2024 and 2023, comprehensive income (loss) in the consolidated statements of comprehensive income (loss) included a translation loss attributable to NetSol of $113,407 and $436,546, respectively.