Quick Heal Technologies Limited, one of the leading providers of cybersecurity and data protection solutions to consumers, businesses and government, reported its unaudited results for the quarter and half year ended 30th September 2021. The company delivered strong revenue and profitability for the quarter while further consolidating its position in the retail as well as enterprise and government segment.
As a result of the spillover of revenue from Q4FY20 to Q1FY21, H1 results are not comparable with H1 of last year.
Dr Kailash Katkar, Managing Director and Chief Executive Officer, Quick Heal Technologies Limited, said, “Our robust all-round performance during the quarter in terms of revenue, profitability and cash flow generation along with strong growth outlook continue to demonstrate our strategic focus and the strength of our offerings in the cybersecurity space. Despite all the challenges due to COVID related disruptions, we have demonstrated our agility with strong performance in both retail as well as enterprise and government segment.
He further added, “We have been able to achieve double digit growth in the enterprise segment consistently in the last few quarters. In line with our strategy to boost market share, we continue to invest in R&D and strengthen leadership team that will enable us to launch next-generation solutions in the coming quarters.”
Nitin Kulkarni, Chief Financial Officer, Quick Heal Technologies Limited, said, “With easing of lockdown restrictions and continuous improvement in economic activity post the second wave of COVID-19, the company witnessed significant growth in the current quarter. With economy rebounding sharply, we have increased our investment in marketing & brand promotion along with continued focus on innovation. This will help in increasing brand recognition and customer reach which will accelerate future growth. We were able to manage our working capital in an efficient way which has resulted in better cash flow. Our balance sheet remains strong with zero debt and cash and cash equivalents of ₹ 3,166 mln as on 30th September 2021.”
Segmental performance for the quarter ended 30th September 2021:
ü Retail segment revenue stood at ₹906 million as compared to ₹766 million in the corresponding period of the previous year, up 18% YoY.
ü Enterprise and Government segment revenue stood at ₹209 million as compared to ₹180 million in the corresponding period previous year, up 16% YoY.
Key updates for the quarter:
· Quick Heal has appointed global industry veteran Richard Stiennon to its board. His extensive experience in cybersecurity will help Quick Heal build advanced next-generation products and solutions.
· Quick Heal has launched new version of its flagship retail products to empower consumers to experience #FreedomWithPrivacy.
· Seqrite has been certified as the top security product by the prestigious AV-Test Institute based in Germany. The brand received perfect scores across various parameters like protection, performance and usability.
|Particulars (₹ million)