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Walton Hi-Tech Industries PLC. has demonstrated remarkable resilience and growth under strong leadership, achieving a significant increase in sales and profit.
In the first 9 months of the current financial year (2023-2024), the company's profit surged by Tk 512.42 crore, marking a 205 percent growth compared to the previous year. This growth was reflected across major financial indicators, including Operating Profit Margin, Earnings Per Share (EPS), and Net Asset Value Per Share (NAVPS).
The company's Third Quarter (Q3) Un-audited Financial Statements for the period ended March 31, 2024, showcased a profit of Tk 762.34 crore, a substantial increase from Tk 249.91 crore in the same period of the previous year.
The report was published after review and approved by the Company's Board of Directors in its 38th meeting held on Sunday (April 21, 2024).
According to the published report, EPS for the period ended March 31, 2024, reached Tk 25.17 compared to Tk 8.25 for the same period of the previous year. NAVPS stood at Tk 258.22 without revaluation and Tk 359.68 with revaluation as of March 31, 2024. Notably, Net Operating Cash Flows Per Share (NOCFPS) stood at Tk 22.88 during this period.
In the period (July’23-March’24), the finance cost percentage on sales decreased to 6.14 percent from 14.79 percent in the same period of the previous year, with total finance costs at Tk 263.07 crore at the end of Q3 of 2023-24, compared to Tk 604.79 crore in the previous year.
The amount and percentage of finance costs during the period July-2023 to March 2024 are significantly lower than the comparative period because of less impact of the devaluation of taka against foreign currencies like the Euro and USD. However, the company suffered foreign currency losses from July 2023 to March 2024 amounting to Tk 41.60 crore, which was Tk 392.73 crore in the corresponding period of the previous year.
From the period of January to March, 2024, the profit of the Company increased to Tk 421.98 crore as against the profit of Tk 235.55 crore of the corresponding period of the previous financial year.
Anticipating healthier profits in the last quarter of the current financial year (April to June, 2024), the management remains optimistic about Walton Hi-Tech's continued growth and performance.
Messenger/Hira/Howlader
