Fabric maker Teejay says global demand softened in quarter

Teejay Lanka Plc, a fabric maker which has operations in Sri Lanka and India said global demand ‘softened’ and volumes fell in the June 2025, though the firm still grew net profits.

Group revenues rose 2 percent to 15.78 billion rupees.

“This growth was recorded despite facing challenging global market conditions, including a slowdown in demand and shifting price sentiments across key export markets,” Teejay Lanka told shareholders in interim accounts.

Cost of sales fell 3 percent to 14.5 billion and gross profits fell 3 percent to 1.25 billion rupees which the firm said was “largely due to lower production volumes during the quarter, as global demand softened across the industry.”

Group administrative expenses grew 37 percent to 957 million rupees, while there was financial gain of 250 million rupees, compared to a 114 million rupees last year.

Finance expense was down 21 percent to 86 million and pre-tax profits were up 33 percent to 364 million rupees.

Net profits were 207 million rupees, up 31 percent.