QuickHeal Technologies Q1 results: Net profit jumps 110% to Rs 25 crore

Pune: Cybersecurity firm QuickHeal Technologies reported a net profit of Rs 25 crore for the quarter ended June 2020, up 109.75% over the corresponding quarter last year. Revenue for the quarter was up 27.53% at Rs 73.46 crore. The PAT margin was at 33.97%, an improvement of 1,331 basis points.

“Even with the COVID-19 headwinds, we were able to deliver strong growth in the first quarter aided by revenue spill over from Q4FY20. With many Indian states gradually relaxing lockdown norms and situation expected to come back to normalcy supported by rising cybersecurity awareness, I’m optimistic about the growth prospects of the company,” said Kailash Katkar, Managing Director & Chief Executive Officer, Quick Heal Technologies.

The retail revenues for the quarter were at Rs 68.8 crore while the enterprise and government segment reported revenues of Rs14.6 crore.

“Non-availability of logistics and transport coupled with an extended lockdown in Q1FY21 affected our retail sales to some extent. Similarly, the overall demand in the enterprise segment has reduced considerably. Our balance sheet remains strong with zero debt and cash and cash equivalents balance of around Rs 387 crore,” said Nitin Kulkarni, Chief Financial Officer, Quick Heal Technologies.