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• PAT at INR 66.5 million; up by 310% YoY
• EBIDTA margin at 17.8%; up by 1200 bps YoY

PUNE, February 07, 2018: Quick Heal Technologies Limited (“Quick Heal”), the leading provider of IT Security products and solutions, today announced the Company’s unaudited and reviewed results for the third quarter ended December 31, 2017.  

Financial highlights of the quarter:

Kailash Katkar, Managing Director & Chief Executive Officer, Quick Heal Technologies Limited, said; “We have seen continued and steady growth in our revenues driven by strong uptake of retail products by partner community following the stabilization of GST. In the enterprise and government segment, our strategy to focus on customer retention while adding new customers has yielded positive results with ‘Seqrite’ successfully retaining 80% of its customers as the segment grew 37% in Q3 FY18 and 21% in 9M FY18.”
He further added, “In line with our commitment to secure digitization, we had collaborated with Cyber Swachhta Kendra under CERT-In, Ministry of Electronics and IT, to develop and distribute a free bot removal tool. According to recent Government estimates, this tool has resulted in a 51% decrease in malware infections in all networks across the country since its launch which reinforces the robustness of our products.” 

Rajesh Ghonasgi, Chief Financial Officer, Quick Heal Technologies Limited, “The third quarter of FY18 resulted in better profitability due to our constant focus on optimising direct and indirect costs. We managed effective utilization of working capital cycle which ensured timely stock clearances.”

Vijay Mhaskar, Chief Operating Officer, Quick Heal Technologies Limited said, “Q3 FY18 marked the release of ‘Seqrite Encryption’ which received an encouraging response from businesses and government establishments. In the retail segment, we dedicated our efforts on strengthening the partner network by launching innovative schemes in a bid to boost engagement. Going forward, we will continue to invest in next-generation IT security products and solutions and expand our partner community while establishing a deeper connect with the existing network.”

Business highlights of the quarter:-

• Revenue from retail and enterprise & government segments accounted for 77.1% and 22.9% of total revenues respectively in Q3 FY18
• Number of licenses sold during Q3 FY18 was 1345K. Licenses sold to retail and enterprise & government segments were 1104K and 241K respectively in Q3 FY18
• Seqrite announced technical collaboration with Finland based Jetico to introduce ‘Seqrite Encryption’ solution to its Enterprise customers
• Quick Heal Total Security and Seqrite Endpoint Security received Best+++ certification from AVLab in Fileless Malware Protection Test.
• Quick Heal Foundation in association with Pune Cyber Police launched ‘Cy-Fi Karandak’, a unique one-act-play competition, to create awareness around cybersecurity

The Board of Directors of the Company, at their meeting held on 7th February 2018, have accepted the resignation of Mr. Rajesh Ghonasgi, Chief Financial Officer. His last day with the Company shall be on 28th February 2018. The Board placed on record, appreciation for the valuable services rendered by him during his tenure as CFO of the Company. Further, the Company is in the process of finalizing the candidature for the position of Chief Financial Officer of the Company, which shall be updated soon.

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 a network of over 18000+ channel partners as on 31st December 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 8.28 million active licenses as on 31st December 2017.