Quick Heal Technologies Limited regains growth momentum in Q2 FY18

• Revenue performance revived in Q2  
• PAT rises 11% to ₹384.8 million YoY; PAT margin up 620 bps YoY

PUNE, November 10th, 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 second quarter ended September 30, 2017.  

Financial highlights of the quarter (₹):-

Kailash Katkar, Managing Director & Chief Executive Officer, Quick Heal Technologies Limited, said; “We have been able to successfully revive our retail growth momentum in Q2 which was impacted due to GST in the last quarter. Our Enterprise and Government segment has shown promising growth driven by rising acceptability of brand ‘Seqrite’ in H1 FY18 as well as Q2 FY18 with 15% and 27% revenue growth rates respectively. Going forward, we continue to remain optimistic on the demand for cybersecurity solutions in India.”

Rajesh Ghonasgi, Chief Financial Officer, Quick Heal Technologies Limited, “During the second quarter, we continued to focus on optimising direct and indirect costs and creating operating efficiencies in the system. We were also able to reduce our working capital cycle from 48 Days in Q2FY17 to 34 days in Q2FY18. These were mainly driven by our focus on timely stock clearances with increased handholding with the channel partner network.”

 Vijay Mhaskar, Chief Operating Officer, Quick Heal Technologies Limited said, “Our state-of-the-art Quick Heal Security Labs continues to be a trusted source of cyber threat intelligence for our retail as well as enterprise customers. The rising incidences of cyber-attacks globally as well as in India are making individuals as well as 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.”

Business highlights of the quarter:-

• Revenue from retail and enterprise & government segments accounted for 86% and 14% of total revenues respectively in Q2 FY18
• Number of licenses sold during Q2 FY18 was 2,293K. Licenses sold to retail and enterprise & government segments were 2026K and 267K respectively in Q2 FY18
• Extensive focus on channel partner expansion and engagement
• Continued efforts to improve cost efficiency to yield better profitability  

About Quick Heal Technologies Limited:-

Quick Heal Technologies Limited is one of the leading providers of IT security software products and solutions in India. Incorporated in 1995 with a registered office in Pune, Quick Heal has 1,300+ employees and a network of approximately 18,000 channel partners as on 30th September 2017. It conducts sales and marketing activities across India.

Quick Heal’s portfolio includes solutions under the widely recognized brand names ‘Quick Heal’ and ‘Seqrite’ across various operating systems and devices. Quick Heal Technologies currently has over 8.1 million active licenses as on 30th September 2017.