PUNE, February 05, 2020: Quick Heal Technologies Limited (“Quick Heal”), one of the leading providers of IT Security & Data Protection solutions to consumers, businesses and Government, reported its reviewed and unaudited results for the quarter and nine months ended 31st December 2019.

Consolidated Financial Highlights

Mr. Kailash Katkar, Managing Director & Chief Executive Officer, Quick Heal Technologies Limited, said; “During 9M FY20, we continue to see slowdown in the market leading to severe pricing pressure. We are strengthening our team to drive the next level of growth while we continue to build innovative, value-added security solutions for our customers while delivering value to our shareholders. We are constantly improving our R&D abilities organically whilst also cautiously looking for inorganic opportunities in the cyber security space.”

Mr. Nitin Kulkarni, Chief Financial Officer, Quick Heal Technologies Limited, added “Our constant focus on improving financial and operational efficiencies across the business is consistently showing positive results. We have reported improved EBITDA and PAT margins this quarter along with improved average revenue per license. We hope to drive more efficiencies from these initiatives in coming quarters as well.”

Segmental Performance for quarter ended ended 31st December 2019

• Retail segment revenue at Rs. 1,876 million as compared to Rs. 1,924 million in the corresponding period of the previous year
  • Contributes 80% to total Revenue

• Enterprise and Government segment revenue at Rs. 468 million as compared to Rs. 490 million in the corresponding period previous year
  • Contributes 20% to Total Revenue

Key updates for the quarter

• Service tax case update: The Hon’ble Customs, Excise & Service Tax Appellate Tribunal has set aside the Service Tax demand for Rs. 561 mln which was earlier confirmed by order dated 28 January, 2016 issued to Quick Heal Technologies Limited by DGCEI, New Delhi. 
• Quick Heal leadership: Ms. Reetu Raina joined us this quarter as Chief Human Resources Officer. She will be responsible for driving HR function and steer the company’s people, operations, culture and recruitment initiatives.
• Awards & Recognition: During this quarter, Quick Heal was recognised as the ‘Cyber Security Product Pioneer in India’ by NASSCOM’s Data Security Council of India (DSCI) at the DSCI Excellence Awards 2019.
• Strategic Investment: Quick Heal has completed its strategic investment in L7 Defense, an Israel based cybersecurity start-up. L7 Defense specializes in Next Generation Web Application Firewall (NG-WAF) and Application Program Interface (API) Security to safeguard businesses against Botnet and Distributed Denial of Service (DDoS) attacks.

About Quick Heal Technologies Limited

Quick Heal Technologies Limited is one of the leading providers of IT Security and Data Protection Solutions with a strong footprint in India and an evolving global presence. Incorporated in the year 1995, with a registered office in Pune, it is an all-round player in cybersecurity with presence in B2B, B2G and B2C segments and multiple product categories – endpoints, network, data and mobility.

It helps in simplifying security by delivering the best in class protection against advanced cyber-threats to millions of its customers and enterprises. Quick Heal’s portfolio includes solutions under the widely recognized brand names ‘Quick Heal’ and ‘Seqrite’ across various operating systems and devices.

Safe Harbor Statement

This document may contain forward-looking statements about Quick Heal Technologies Limited, which are based on the beliefs, opinions, and expectations of the company’s management as the date of this press release and the companies do not assume any obligation to update their forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. Consequently, readers should not place any undue reliance on such forward-looking statements.

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