Walton profits jump 205% in July-March
Its revenue also rose by 5% during the period to Tk4,286 crore, against the previous year at the same time
Walton Hi-Tech Industries has reported a Tk762 crore profit in first nine months of the current fiscal year, marking a staggering 205% year-on-year increase.
The country's leading electronics and home appliance manufacturer unveiled its financial report for the July-March period of FY24 at a meeting on Sunday.
During the January-March quarter, the company achieved a net profit of Tk422 crore, reflecting an impressive 80% growth compared to the corresponding period in the previous year, as per the financial statement.
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In the quarter, its revenue also grew over 27% to reach Tk1,917 crore.
The company reported an earnings per share (EPS) of Tk25.17 during the first nine months, showcasing a notable increase from Tk8.25 recorded during the corresponding period a year ago.
Its revenue also rose by 5% to Tk4,286 crore over the period, against that of the previous year's same time.
In a price-sensitive statement, Walton has said the financing cost during the period witnessed a significant decrease thanks to a subdued impact of taka's devaluation against foreign currencies, US dollar in particular.
The company elaborated that the operating profit margin for the July-March period of the current fiscal year demonstrated a notable increase, reaching 24.73%, as compared to 21.03% in the corresponding period.
This favourable financial landscape, as outlined in the statement, played a pivotal role in enabling the company to achieve stellar growth in profit.
