Writing Instruments Linc Pen attributes sales offtake in recent quarter results to improved customer sentiment
Kolkata/IBNS: Indian writing instruments manufacturer Linc Pen reported a cash profit of Rs. 1.47 crore during the first quarter of 2021-22 ended June 31, 2021 compared with a cash loss of Rs. 2.22 crore in the year ago quarter.
Considering the sustained closure of educational institutions, the company said it is not dissatisfied with the performance.
Said Deepak Jalan, Managing Director, Linc Pen & Plastics Ltd said that despite the pandemic, the company posted double the turnover during the quarter under review in comparison to the same quarter from the previous year.
He said, “The improvement was owed to focused initiatives: deeper reach, wider range and equipment automation. Besides, we believe this change in our business model is laying the foundation of a reinvented Linc.''
The company markets to over 50 countries across the globe.
In its domestic market, the company reported that in the latest quarter, products priced at Rs 10 and above contributed 54 per cent to revenues (compared to 46 per cent in Q1, FY 2020-21).
The company attributed the sales offtake to improved consumer sentiment in June 2021.
The company said it has been able to widen its distribution network which helped the company seed its brand with new retailers.
In the export market, the company reported exports were Rs. 1,242 lakh in Q1, FY 2021-22 (Rs. 1,236 lakh in Q4, FY 2020- 21 and Rs. 770 lakh in Q1, FY 2020-21) and 1,537 lakh in Q1, FY2019-20).
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