Walton Hi-Tech Industries Monday said it suffered losses in the July-September quarter due to price hikes of materials, higher freight costs, vulnerable market conditions and the devaluation of the taka against the dollar.
The electronics company posted a Tk46.05 crore loss in the first quarter of the fiscal year 2022-2023, and its earnings per share (EPS) dropped to Tk1.52 from the Tk281.12 crore profit and Tk9.28 EPS in the same period last year, according to the unaudited financial statements.
The dollar exchange rate was Tk84.82 in July 2021. But it started to climb upward in May this year. In May, the price in the open market crossed Tk100.
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So, Walton said, it suffered foreign currency losses during the current fiscal year's first quarter amounting to Tk262.45 crore, which was only Tk10.11 crore in the same period of the previous fiscal year.