Quick Heal Technologies Limited Reports Strong Performance in Q1 FY19

Quick Heal Technologies Limited (“Quick Heal”), India’s leading IT Security Software Products and Solutions provider, reported its reviewed and un-auditedresults for the quarter ending 30th June 2018.
Segmental Performance for the quarter ended 30th June 2018

Ø Retail segment revenue up 150% to Rs. 423 million as compared to Rs. 169 million in the corresponding period of the previous year

ü Contributes 75% to Total Revenue

ü No. of Licenses sold grew by 252% to 0.80 million from 0.23 million in Q1 FY18

Ø Enterprise and Government segment remained flattish due to lower than expected growth from Government Business

ü Contributes 25% to Total Revenue

ü No. of Licenses sold saw a de-growth of 16% to 0.23 million from 0.27 million in Q1 FY18

Mr. Kailash Katkar, Managing Director & Chief Executive Officer, Quick Heal Technologies Limited, said; “We are extremely pleased with our performance in Q1 FY19, as this is our highest ever profit reported in Q1. The first quarter is usually the weakest, and such has been the nature of the business for long. However, we have taken steps to reduce this cyclicality and the results of the same are visible from our current performance. The Enterprise and Government segment remained flattish on account of lower than expected growth from Government business. However, ‘Seqrite’ continues to be our flagship offering for the enterprise customers. Q1FY19 has set the tone for the business and we are confident of an uptick in our performance in the coming quarters. The digitization push and the data protection regulations across the globe, is making individuals and businesses realize the importance of security of their systems.”

Mr. Nitin Kulkarni, Chief Financial Officer, Quick Heal Technologies Limited, added “The efforts being put in by the organisation to stabilise the business across all quarters is visible from our performance in Q1FY19. We are actively working on various strategies to improve our top line and at the same time, maintain a strict control over the operating overheads.”

Mr. Vijay Mhaskar, Chief Operating Officer, Quick Heal Technologies Limited, commented “Cyber threat landscape is constantly evolving, with cybercriminals getting more sophisticated and therefore finding a comprehensive solution and keeping our systems secured has become the need of the hour. Our ability to create customised solutions for diversified needs is one of the key differentiators which has helped products and solutions developed under the brands ‘Quick Heal’ & ‘Seqrite’ to gain market share.”