BM Desk:
Despite the adverse business conditions, Walton Hi-Tech Industries PLC has recorded substantial profit growth in the first quarter of the current financial year 2023–24, according to a press release.
Such a picture of the company’s financial indicators was reflected in its unaudited financial report for the first quarter of the current financial year (July–September).
The report was published after being reviewed and approved by the company’s board of directors at the 36th board meeting held on Wednesday.
According to the published reports, Walton Hi-Tech posted a profit of Tk 202.07 crore 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 Tk 1.52 for the same period last year. As of 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 same period 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 3.12 percent in the same period of the previous year.
