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Dhaka Tribune

Walton records 512C profit growths in July'23-March'24

EPS for the period ended March 31, 2024, reached Tk25.17 compared to Tk8.25 for the same period of the previous year

Update : 22 Apr 2024, 07:30 PM

Walton Hi-Tech Industries PLC demonstrated remarkable resilience and growth under strong leadership, achieving a significant increase in sales and profit. 

In the first 9 months of the current FY24, the company's profit surged by Tk512.42 crore, marking a 205% 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 Tk762.34 crore, a substantial increase from Tk249.91 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.

According to the published report, EPS for the period ended March 31, 2024, reached Tk25.17 compared to Tk8.25 for the same period of the previous year.

NAVPS stood at Tk258.22 without revaluation and Tk359.68 with revaluation as of March 31, 2024.

Notably, Net Operating Cash Flows Per Share (NOCFPS) stood at Tk22.88 during this period.

In the period (July’23-March’24), the finance cost percentage on sales decreased to 6.14% from 14.79% in the same period of the previous year, with total finance costs at Tk263.07 crore at the end of Q3 of FY24, compared to Tk604.79 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 Tk41.60 crore, which was Tk392.73 crore in the corresponding period of the previous year. 

From the period of January to March, 2024, the profit of the Company increased to Tk421.98 crore as against the profit of Tk235.55 crore of the corresponding period of the previous financial year.

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