Walton Hi-Tech Industries PLC, a listed electrical and electronics appliance giant, posted a 79% year-on-year profit growth in the third quarter (January-March) of FY24, primarily due to eased losses on foreign currency transactions. In the nine months of FY24, the company’s profits surged by 205% compared to the same period last year. Walton secured Tk 422 crore in profits in Q3, with earnings per share rising to Tk 13.93 from Tk 7.78 a year ago. The company’s foreign exchange transaction costs decreased significantly to Tk 41.60 crore from Tk 392.73 crore, reducing finance costs by 56%. Operating profit margin improved to 24.73% from 21.03%, while finance cost percentage on sales dropped to 6.14% from 14.79%. For the July 2023-March 2024 period, Walton reported a profit of Tk 762 crore, up from Tk 249.91 crore the previous year. The company’s strong performance is attributed to its dominance in the refrigerator market and success in other appliance segments.
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