Walton Hi-Tech Industries has announced a remarkable 205% year-on-year increase in profits, totaling Tk762 crore for the first nine months of the current fiscal year.
The leading electronics and home appliance manufacturer revealed its financial performance for the July-March period of FY24 during a meeting held on Sunday.
For the January-March quarter, the company attained a net profit of Tk422 crore, marking an impressive 80% growth compared to the same period last year, according to the financial statement.
During the quarter, Walton’s revenue also experienced substantial growth, surpassing 27% to reach Tk1,917 crore.
The earnings per share (EPS) for the first nine months stood at Tk25.17, showcasing a significant increase from Tk8.25 recorded during the corresponding period a year ago.
Additionally, the company’s revenue rose by 5% to Tk4,286 crore over the period compared to the previous year.
In a statement addressing price sensitivity, Walton highlighted a considerable decrease in financing costs during the period, attributed to the subdued impact of the taka’s devaluation against foreign currencies, particularly the US dollar.
The company further explained that the operating profit margin for the July-March period of the current fiscal year exhibited a notable increase, reaching 24.73%, compared to 21.03% in the corresponding period.
This favorable financial performance, as outlined in the statement, played a crucial role in facilitating the company’s remarkable profit growth.
Read more: BYD customers receive motor insurance coverage from Green Delta Insurance
