Walton Hi-Tech has recorded profit of Tk 250 crore in the first nine months of the financial year 2022-23, according to the latest unaudited financial report of the company.
The report shows the company's earnings per share (EPS) for the period ended March 31 of the current financial year stood at Tk 8.25, according to a press release.
However, Walton Hi-Tech had to sacrifice lion portion of its profit due to the high price of US dollars.
During the current financial year, the company faced a financial loss of foreign exchange equivalent to Tk 392.74 crore due to the depreciation of the Bangladeshi currency against the US dollar, which was only Tk 44.18 crore in the same period of the previous financial year.
At the end of the current financial year's third quarter, the company's total financial expense was Tk. 604.79 crore, which was only Tk 149.60 crore in the same period of the previous financial year.
Omar Faruk Ripon, Chief Financial Officer of Walton Hi-Tech, said that the company would register the profit of Tk. 622 crore in this period and EPS would be Tk. 21 if the dollar price did not increase.
The cost of raw materials and spare parts along with freight charges increased drastically in the international market after the Russia-Ukraine war began in February last year which led to dollar price hike.
The price of $1 went up to Tk. 110 from Tk. 85 in the banking sector within one year.
As a result, most of the listed companies in the stock market had to sacrifice major portion of their profits.
As on March 31, 2023, the company's Net Asset Value Per Share (NAVPS) stood at Tk. 224.57 without revaluation and Tk. 327.84 with revaluation.
In this period, the company's Net operating cash flow per share (NOCFPS) stood at Tk 73.70, which is 550.49 times higher than the same period last year.
The published report revealed that the company NOCFPS for the period ended March 31 of the current financial year was increased due to better control over inventory, improvement of receivables, strong monitoring and control over the company's all costs and proper utilization of the assets.
Besides, significant reduction of payments to suppliers and others compared to the previous fiscal year's same period also resulted in raising the NOCFPS.