TJL Group records Rs 2.1 net profit in 4Q

The TJL Group (TJ), one of the region’s largest Knit Fabric manufacturers recorded a successful year with year on year net profit growth of 63% in its fourth quarter. The year to date (YTD) net profit was Rs. 2,172 million, while the revenue recorded was Rs.17.8 billion, a 30% increase.

The strong Group performances achieved in Q3 has been surpassed in the fourth quarter, posting record breaking quarterly and full year financial results. The boost in profits can be directly attributed to the synergy from acquisitions, stringent cost control initiatives, cutting edge Innovations, and the company’s growing product portfolio. “Amidst an ever challenging global space we have continued to pursue every new opportunity; leveraging our regional footing and providing flexible and better solutions to a broader customer portfolio, through which we have enhanced our performance and increased value to our shareholders,” said Chairman of the Group, Bill Lam, adding that the cohesive and smooth transition of the teams coming under the single TJ operating structure had greatly contributed to the delivery of these outstanding results.

The Group recorded a consolidated revenue of Rs. 5.5 billion in its fourth quarter, a 45 percent growth and a net profit of Rs. 825 million, a 62 percent growth compared to the previous quarter. The gross profit growth over the year was driven by organic operational efficiencie sand sustained development of the acquired entities, Ocean India and Quen by Lanka, which were turned around in the first half of the financial year.

The gross profit percentage further improved with the deployment of TJ’s Coal plant, recording an 87 percent increase over the previous quarter and an 86 percent increase over the last financial year.

TJ’s stand-alone performance during the year under review was a net profit of Rs.1, 483 million, an 11 percent growth over last year, on a top line of Rs. 14.1billion. TJ’s stand-alone bottom-line growth is driven by continuing its operating efficiencies, which is demonstrated in its gross profit growth of 26 percent.