Walton made Tk 762 crore profit in nine months

Walton Hi-Tech Industries PLC's profit rose 205 percent year-on-year to Tk 762 crore in the nine months to March this year and more than half of it came in the last three months, January to March.

In the last three months to March, the company made a profit of Tk 422 crore, posting a 79 percent rise year-on-year.

The electronics manufacturer said its finance costs in the July-March of 2024 were significantly lower than the previous year thanks to a fall in the impact of the US dollar appreciation.

In the last nine months, the company's foreign currency losses were Tk 41.60 crore, much lower from the same period previous year's Tk 392.73 crore.

In the period, Walton witnessed substantial growth in major financial indicators, including operating profit margin, earnings per share (EPS) and net asset value per share (NAVPS).

According to the report approved by Walton's board, the company's EPS for the period ended on March 31 this year stood at Tk 25.17, Tk 8.25 of the same period previous year.

Meanwhile, its NAVPS stood at Tk 258.22 without revaluation and Tk 359.68 with revaluation and net operating cash flows per share Tk 22.88.

The company mentioned that in the period from July 2023 to March 2024, the percentage of finance costs reduced significantly.

The finance cost percentage on sales stood at 6.14 percent in the period, which was 14.79 percent in the same period previous year.

The company's total finance costs were recorded at Tk 263.07 crore in Jul-Mar of 2024, which was Tk 604.79 crore in the same period of the previous year.

However, the management of Walton anticipates the company's profits would be healthier in the April to June quarter of 2024.