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Walton Hi-Tech Industries PLC has demonstrated remarkable resilience and growth under strong leadership, significantly increasing sales and profit.
In the first nine months of the current fiscal year (FY’24), the company's profit surged by Tk 5.1242 billion (512.42 crore), marking a 205 per cent growth year on year. This growth was reflected across major financial indicators, including Operating Profit Margin, Earnings Per Share (EPS), and Net Asset Value Per Share (NAVPS), according to a Walton press release.
The company's Third Quarter (Q3) Un-audited Financial Statements for the period ended March 31, 2024, showcased a profit of Tk 7.62 billion, a substantial increase from Tk 2.4991 billion 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 July’23-March’24 period, the finance cost percentage on sales decreased to 6.14 per cent from 14.79 per cent in the same period of the previous year, with total finance costs at Tk 2.6307 billion (263.07 crore) at the end of Q3 of 2023-24, compared to Tk 6.0479 billion (604.79 crore) in the previous year.
The amount and percentage of finance costs during July-2023 to March 2024 period are significantly lower than the comparative period because of less impact of the devaluation of taka against foreign currencies like the Euro and USD.
From the period of January to March, 2024, the profit of the Company increased to Tk 4.2198 billion (421.98 crore) compared to 2.35 billion (Tk 235.55) crore in the corresponding period of the previous financial year.