IT security solutions provider Quick Heal Technologies has registered a net profit of INR 16.09 crore for the quarter ending December 31, 2018. The net profit of the firm has witnessed an impressive 102.3% hike against INR 7.97 crore in the year-ago quarter.
The consolidated revenue of the firm surged by 3.64 per cent reaching INR 65.90 crore. The company claims that for the nine-month tenure ended December 31, the revenue from the government and enterprise segment jumped 7 per cent reaching INR 49 crore.
This segment contributes 20 per cent of the company’s total revenue.
Elaborating more on the revenue results, Kailash Katkar, MD, Quick Heal Technologies said, ‘’There has been a sustained momentum in the business with overall revenue growth of 15% in our YTD operating performance. During the year, we made conscious efforts to offer highly customised endpoint security, network security, and data protection solutions to our enterprise customers and enhance engagement with the channel ecosystem.’’
‘’While the retail segment grew by 15%, the growth of 7% in the Enterprise and Government segment has been lower than our expectations. However, we are confident that our leadership position backed by world-class products & solutions and deep intelligence on the threat landscape will enable us to deliver steady performance in the coming future,’’ added Katkar.
Nitin Kulkarni, Chief Financial Officer, Quick Heal Technologies said, “Our unrelenting efforts to grow the business have started yielding results. For 9MFY19, we have witnessed a 15% growth in revenue which has been complemented by an increase in EBITDA and PAT margins by 1,150 bps and 1,104 bps respectively. As of December 2018, overall working capital days stood at 77 days as compared to 83 days in March 2018.”
