Bangladesh’s leading electronics manufacturer, Walton Hi-Tech Industries PLC, has reported a 205% year-on-year increase in profit, reaching Tk 762 crore for the nine months ending in March this year.
Notably, over half of this profit surge was amassed in the last three months, from January to March, with the company raking in Tk 422 crore, marking a substantial 79 percent rise year-on-year.
The impressive financial performance has been attributed, in part, to a significant reduction in finance costs during the July-March period of 2024, owing to a decrease in the impact of US dollar appreciation. Walton’s foreign currency losses for the period totaled Tk 41.60 crore, significantly down from Tk 392.73 crore in the corresponding period of the previous year.
During this period, Walton also witnessed substantial growth across 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 ending March 31 this year stood at Tk 25.17, compared to Tk 8.25 for the same period the previous year. Meanwhile, its NAVPS reached Tk 258.22 without revaluation and Tk 359.68 with revaluation, with net operating cash flows per share amounting to Tk 22.88.
The company noted a significant reduction in finance costs as a percentage of sales, plummeting from 14.79 percent to 6.14 percent year-on-year for the period. Total finance costs for the July-March period of 2024 amounted to Tk 263.07 crore, a stark contrast to Tk 604.79 crore in the same period of the previous year.
