Walton has earned a net profit of 6.11 percent in the third quarter of the current fiscal year, despite Bangladeshi currency depreciation against the US dollar.
The company has incurred a loss of foreign exchange equivalent to Tk 392.74 crore due to the depreciation of the local currency against the US dollar during this period, which was only Tk 44.18 crore in the same period of the previous financial year.
The unaudited financial report for Q3 of the current fiscal year revealed this information, which was approved by the company's board of directors at a board meeting held on Wednesday.
According to published reports, the company's earnings per share (EPS) for the period ended March 31, 2023, was Tk 8.25.
As of March 31, 2023, the company's net asset value per share 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 stood at Tk 73.70, which is 550.49 times higher than the same period last year.
In the first nine months of the current financial year, the company's operating profit stood at 21.03 percent, which was 18.67 percent in the same period of the previous financial year.
During this period, the percentage of finance costs against sales and debt was recorded at 14.79 percent and 15.80 percent, respectively, compared to 2.79 percent and 3.42 percent, respectively, in the last financial year's same period.
At the end of the current financial year's third quarter, the company's total financial expense was Tk 604.79 crore, compared to Tk 149.60 crore in the same period of the previous financial year. As a result, the company's profit after tax for the period ended March 31, 2023 (third quarter) stood at 6.11 percent.
According to Walton authorities, the global economy was badly affected by the coronavirus pandemic, the post-pandemic situation, and the recent European geopolitical crisis. International trade was greatly hampered. As a result, prices of almost all commodities, including food and energy, went up, and inflation also soared globally. A fragile situation in global economic situation was created.
Due to the increase in transportation costs and price hikes of industrial raw materials on the international market, turbulent global market conditions, and depreciation of the Bangladeshi currency against the US dollar, the cost of raw materials and spare parts increased drastically, it said.
However, Walton is overcoming all the adverse business situations by taking various timely initiatives and thus returning to profit in the third quarter.