Sri Lanka, June 26 -- The Teejay group recorded revenue of Rs.60.04 billion during the period, reflecting a 10 percent year-on-year (YoY) decline, primarily due to continued softness in global textile demand.

This performance was largely impacted by reciprocal tariffs imposed by the United States, intensified pricing pressures across key markets and the resulting decline in volumes, all of which collectively weighed on the topline growth.

Group gross profit declined by 36 percent YoY to Rs.5.02 billion, mainly attributable to lower production volumes, underutilisation of plant capacity, sustained pricing pressures and an unfavourable product mix. Together, these factors adversely affected margin performance amid a challenging operatin...