Walton Hi-Tech Industries PLC, country's leading electrical and electronics manufacturing company listed in capital market, has announced its un-audited financial report for the first quarter ending September 30, 2024.
The report was published after reviewed and approved by the Company's Board of Directors in its 42nd meeting held on Monday, according to a press release on Tuesday.
According to the published report, the company posted Tk 149.03 crore profit in the first quarter (July-September) of the current financial year 2024-25 as against of Tk 202.07 crore profit in the same period of the previous year.
The company’s operating profit margin decreased slightly to 21.38% in the period of July-Sept’2024 from 22.58% in the prior period. In the first quarter of the current financial year, the company’s finance costs rose to 10.12% of sales, up from 5.22% in the prior period, due to the increase of foreign currency losses for currency devaluation and higher interest rates.
In the period of July-Sept’2024, foreign currency losses totaling Tk 45.85 crore, combined with increased interest expenses and sales & distribution costs, led the company to witness a reduction in its net profit after tax. These factors collectively impacted the company’s profitability, reflecting the financial environment’s challenges.
As a result, the Company’s Earnings Per Share (EPS) stood at Tk 4.92 for the period ended September 30, 2024 compared to Tk 6.67 of the previous year’s same period.
As on September 30 of 2024, the Company's Net Asset Value Per Share (NAVPS) stood at Tk 282.80 without revaluation and Tk 388.22 with revaluation.
The Company’s Net Operating Cash Flows Per Share (NOCFPS) for the period ended September 30, 2024 stood at Tk 3.92 while it was Tk 16.68 in the previous year’s same period. This reduction of NOCFPS is primarily due to decreased collections from customers as the company extended supportive credit terms to strengthen its distribution network, ensuring market stability and sustainability. In addition, the company’s payments to suppliers and the government exchequer increased to accommodate higher material purchases necessary for sustaining sales growth.
This strategic adjustments in cash flows reflected the company’s commitment to fostering long-term growth and maintaining a resilient operational foundation to support its market present.
In the previous days, the company’s management was successfully able to reduce the foreign currency losses through effective measures. As the management’s such effort is still continued, the aforesaid losses will be reduced in coming days, expressing the hope Walton authorities noted that the company has also given special attention on increasing the amounts of receivable collections.