Quick Heal Technologies Limited reports its Q1 FY18 Results Steady growth in activations

Q1 FY18 – Consolidated Results

• Revenues declined by 36.2% on YoY basis to Rs 303.2 million
• EBITDA declined from Rs -33.9 million to Rs -160.6 million
• PAT declined from Rs -54.7 million to Rs -113.1 million
• In retail segment, active licenses grew 7.7% on YoY basis to 6.7 million

PUNE, August 11^th, 2017: Quick Heal Technologies Limited (“Quick Heal”), India’s leading IT Security Software Products and Solutions provider, reported its unaudited and reviewed results for the first quarter of the financial year ending 31^st March, 2018.

Key Highlights 

• In retail segment, active licenses grew 7.7% on YoY basis to 6.7 million
• Revenue from retail and enterprise & government segments accounted for 53.9% and 46.1% of total revenues respectively in Q1 FY18.
• Number of licenses sold during Q1 FY18 was 502.2k. Licenses sold to retail and enterprise & government segments were 275.2k and 227.0k respectively in Q1 FY18

Kailash Katkar, Managing Director & Chief Executive Officer, Quick Heal Technologies Limited, said; “Our performance during the first quarter was adversely impacted by the transition of our economy to the GST regime, beginning from 1^st July 2017. We witnessed decline in our retail segment revenues primarily on account of delay in stocking of our products by our distributors who were waiting for commencement of the GST regime. Active licenses grew 7.7% on YoY basis which correlates to strong consumer demand and liquidation of stock in the market. This trend proves that in next couple of quarters the demand from distributors will pick up raising the product stock level. July witnessed good pickup in demand from the distributors who had held back their purchases in first quarter.”

He further added, “Our enterprise & government segment continued to display growth driven by rising acceptance of our enterprise products. The overall active licenses (retail & enterprise) grew to over 8.0 million as on June 2017. Going forward, we continue to remain positive on the demand for IT security solutions in India. The rising incidences of cyber-attacks globally as well as in India are making the individuals and corporates cognizant about ensuring robust security of their systems. The recent digitisation push in India has further reinforced the need to address the system vulnerabilities and ensure complete protection.”

Key Achievements / Developments in Q1 FY18:

• Quick Heal Technologies was recognized as one of the Top 25 Cyber Security Technology Companies 2017
• Seqrite Endpoint Security (EPS) and Quick Heal Total Security received Best+++ certification from AV Lab, an independent organization that conducts tests on security software for enterprise and individual users
• Quick Heal Technologies launched two products:
  • Seqrite Endpoint Security 7.2
  • Quick Heal Total Security Multi Device

About Quick Heal Technologies Limited

Quick Heal Technologies Limited is one of the leading providers of security software products and solutions in India. Incorporated in 1995 with a registered office in Pune, Quick Heal has 1,318 employees and a network of over 16,712 retail channel partners, 349 enterprise channel partners and 98 Government partners as on 30^th June 2017. It conducts sales and marketing activities out of 63 offices and warehouses across 35 cities in India and, through its subsidiaries that are present in Japan, Dubai, the United States of America, and Kenya.

Quick Heal’s portfolio includes solutions under the widely recognized brand names ‘Quick Heal’ and ‘Seqrite’ across various operating systems and devices. Quick Heal currently has over 8.0 million active licenses spread across more than 80 countries as on 30^th June 2017.