Thrid Quarter Results Linc Pen & Plastics reports higher revenue in third quarter results
Kolkata/IBNS: Linc Pen & Plastics Ltd, one of India’s leading writing instruments brands, posted higher revenues for the third quarter (ending December 31, 2020) compared to the immediate previous quarter despite little movement in the education sector.
The company’s managing director, Deepak Jalan, said, “We reported higher revenues over the immediate previous quarter by 10.5 per cent. The company achieved 74 per cent revenues reported in Q3 FY 2019-20.”
He also said, “The company saw a month on month improvement in sales as a percentage of what we had reported in the corresponding period of FY 2019-20 - without upside from the educational sector. We are optimistic of a resumption in schools and colleges, which should revive replacement spending of writing instruments. This is expected to transform the company towards a positive bottom-line starting Q4 FY 2020-21.”
The company said it recorded its fastest ever increase in sales footprint, with 30,000 new outlets added the third quarter of FY 2020-21.
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