Dhaka, April 30 -- Walton Hi-Tech Industries posted a sharp 28 per cent year-on-year decline in profit to Tk 2.80 billion in the January-March quarter of FY26, as higher value-added tax (VAT) on key products squeezed sales and margins.

Earnings per share (EPS) fell to Tk 8.39 in the third quarter from Tk 11.76 in the same period a year earlier, according to the company's unaudited financial statements published on Wednesday.

The country's leading electronics and home appliance maker attributed the downturn primarily to a contraction in sales following a steep hike in output VAT on refrigerators and air conditioners-two of its core products.

The VAT rate doubled from 7.5 per cent to 15 per cent.

Facing intense market competition, Walto...