Linc Pen & Plastics' net profit up 24 percent

Writing instruments company Linc Pen and Plastics Ltd (Linc) on Saturday said its net profit during the fiscal year 2014-15 increased by over 24 percent at Rs.14.32 crore against Rs.11.51 crore during 2013-14.

The net revenue in the review period increased marginally by just over one percent at Rs.318.3 crore compared to Rs.314.1 crore during the fiscal year 2013-14.

It also registered a negative growth in its exports for the first time in the last 15 years.

The company's exports fell by over four percent at Rs.87.17 crore against Rs.91.08 crore in the timeframe under review.

"The performance could have been better, but on account of lower exports due to political turmoil, socio-economic crisis and currency devaluation in few geographies of our presence," the company's managing director Deepak Jalan said.

He said during the January-March period of 2015, writing instruments priced Rs.10 and above registered a 37 percent sales growth.

The company's net revenue, in the aforesaid period, however, remained flat at Rs.92.59 crore against Rs.92.15 crore in the corresponding timeperiod in 2014.