HomeNewsQUICK HEAL TECHNOLOGIES POSTS ITS QUARTERLY RESULTS WITH ENTERPRISE SEGMENT GROWING SUSTAINABLY

QUICK HEAL TECHNOLOGIES POSTS ITS QUARTERLY RESULTS WITH ENTERPRISE SEGMENT GROWING SUSTAINABLY

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 nine months ended 31st December 2022.

CONSOLIDATED FINANCIAL HIGHLIGHTS:

Particulars
(INR Crs)

Q3-FY23

Q3-FY22

YoY Change

9M-FY23

9M-FY22

YoY Change

Revenue

66.8

79.6

(16.1)%

228.8

238.2

(3.9) %

EBITDA

(11.4)

20.5

(155.5) %

18.1

72.0

(74.9) %

EBITDA Margins

17.0) %

25.72%

(4,276) bps

7.9%

30.2%

(2,234) bps

PAT

(9.3)

14.3

(165.1) %

13.0

55.1

(76.3%)

PAT Margin

(13.9) %

17.9%

(3.187) bps

5.7%

23.1%

1,743) bps

Dr. Kailash Katkar, Managing Director and Chief Executive Officer, Quick Heal Technologies Limited, said, “The Enterprise segment continues to be in the sustainable growth manner. We are witnessing signs of short-term contraction in the consumer market due to the lowering of global IT spending. We are focussing on maintaining our market share in the segment through the period. We have taken several initiatives toward the business and is showing early signs of success during the initial phase. We are in the right industry where the world is on the cusp of massive digital evolution. While some parts of the business might be under stress in the short term, we will continue to invest in R&D and S&M for our long-term success. Through these efforts we have pivoted ourselves from a consumer AV player to a wholistic cybersecurity player with new age products under our umbrella.,” he added.

Mr. Navin Sharma, Chief Financial Officer, Quick Heal Technologies Limited, said, “The quarter results might not be encouraging but we are excited. If we look closely, the Enterprise business continues to grow sustainably even at times when the software industry seems to struggle. In the short term, the consumer business might be under pressure due to degrowth in the IT software as a category but is deemed to revive. EBITDA for the quarter stands negative owing largely due to the top line degrowth in the consumer business. We will continue to invest for our long-term win as our balance sheet is strong and we are a zero-debt company. We have completed our recent buy-back worth INR 185 Crs, inclusive of taxes.”

SEGMENTAL PERFORMANCE FOR THE QUARTER AND 9MONTHS ENDED 31ST DECEMBER 2022:

  • Enterprise and Government Segment grows sustainably showing YoY growth for the 10th straight quarter. Revenues for the quarter stood at ₹24 Cr as compared to ₹22 Cr in the same period of the corresponding year, up 13% YoY and ₹76 Cr for nine months as compared to ₹59 Cr in the same period of the corresponding year, up 27% YoY.
  • Retail segment revenue stood at ₹51 Cr for Q3 as compared to ₹64 Cr in the same period of the corresponding year, down 20% YoY and ₹171 Cr for 9M-FY23 as compared to ₹195 Cr in the same period of the corresponding year, down 12% YoY.

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