Walton records Tk 202.07cr profit with substantial growth

Walton Hi-Tech Industries PLC, country's leading electrical and electronics manufacturing company listed in capital market, has recorded a substantial profit growth in the first quarter of the current financial year 2023-24.

Despite the adverse business conditions like economic recession, geopolitical crisis, Russia-Ukraine war etc, the Bangladesh’s electronics giant posted the remarkable growth in its major financial indicators, including operating profit margin, Earnings Per Share (EPS), Net Asset Value Per Share (NAVPS), receivable collection etc, during the period of July-23 to September-23. 

Such picture of the company's financial indicators was reflected in its unaudited financial report for the first quarter of the current financial year (July 2023-September 2023).

The report was published after reviewed and approved by the company’s board of directors at the 36th board meeting held on Wednesday (October 25, 2023).

According to the published report, Walton Hi-Tech posted Tk 202.07 crore profit in the first quarter (July to September, 2023) of the current financial year as against the loss of Tk 46.10 crore in the same period of the previous year.

The company’s EPS for the period ended September 30, 2023 of the current financial year was Tk 8.25 as against of Tk (1.52) of the same period of the last year.

As on September 30, 2023, the company’s Net Asset Value Per Share (NAVPS) stood at Tk 248.88 without revaluation and Tk 350.40 with revaluation.

In that period, the company’s net operating cash flows per share (NOCFPS) stood at Tk 16.68.

In the first quarter of the current financial year, the company's operating profit increased to 22.58 percent, which was 16.68 percent in the same period of the previous financial year.

During this period, the percentage of finance cost against sales and debt was recorded at 5.22 and 2.30 percent respectively, which was 21.81 and 8.06 percent respectively in the same period of the last financial year.

During the period of July-23 to September-23, the company’s financial loss of foreign exchange, incurred for the depreciation of the Bangladeshi currency against the US dollar, was reduced to Tk 1.89 crore from Tk 242.46 crore of the last year’s same period.

At the end of the current financial year’s first quarter, the company’s total financial expenses were recorded at Tk 62.76 crore, which was Tk 322.42 crore in the same period of the previous year. As a result, the company’s profit after tax for the period ended September 30, 2023 (first quarter) stood at 16.79 percent as against of 3.12 percent of the same period of the previous year.