TJL reported a net profit of LKR 549.13Mn for 4QFY24, marking a growth of 260% YoY and 15% QoQ. This impressive performance is primarily attributed to increase in gross profit and reduction in net finance costs. Additionally, the bottom line was aided by a tax reversal of LKR 162.2Mn, resulting from the recognition of deferred tax assets at Teejay India. Despite a 12% YoY decline in revenue to LKR 15.3Bn, gross profit improved by 27%, driven by effective utilization of capacities, stringent inventory management and effective cost-control measures. Consequently, the gross profit margin improved to 9.8% (Previous 6.9%).