Srilanka, Feb. 3 -- Teejay Group, Sri Lanka's first multinational textile manufacturer, closed the third quarter of the financial year 2024/2025 with a year-to-date Profit after Tax of Rs. 1.9 billion, a 234 percent improvement compared to the figures reported during the same period last year.

The increase in profit is primarily due to the timely execution of several strategic initiatives and efficient cost reduction strategies, coupled with Teejay's multinational presence which enabled it with the flexibility to capitalise on strategic locations, the company said in a commentary that followed the release of the interim financial statements. The Group revenue has soared to an impressive Rs. 49.8 billion, recording a 10 percent increase ...