Quick Heal Technologies Limited announces H1FY20 results

PUNE, November 14, 2019: Quick Heal Technologies Limited (“Quick Heal”), India’s leading provider of IT Security Software Products and Solutions to consumers, businesses and Government, reported its reviewed and unaudited results for the quarter and half year ended 30th September 2019.

Consolidated Financial Highlights:

Mr. Kailash Katkar, Managing Director & Chief Executive Officer, Quick Heal Technologies Limited, said; “During H1 FY20, we saw slowdown in the market coupled with pricing pressure which was already prevalent. However, we remain focused and are working closely with our partners to grow our reach in the market. We endure in providing innovative, value-added security solutions to our customers, and recently signed a definitive agreement to make a strategic investment in L7 Defense, an Israel based cybersecurity start-up which will help us enter the fast-growing next generation web application firewall and API security market. Our constant focus on R&D and dedicated sales efforts has helped us build a more effective and result oriented go-to-market strategy. This will aid to fuel growth in both our Retail and Enterprise segments.”

Mr. Nitin Kulkarni, Chief Financial Officer, Quick Heal Technologies Limited, added “We continue to deliver on our financial and operational efficiencies. This has started showing results with significant improvements in our working capital cycle this quarter. We continue to work on various organization-wide initiatives to improve our growth rate and maintain profitability.”

Segmental Performance for quarter ended 30th September 2019

• Retail segment revenue at Rs. 1,336 million as compared to Rs. 1,379 million in the corresponding period of the previous year
  • Contributes 81% to Total Revenue

• Enterprise and Government segment revenue at Rs. 317 million as compared to Rs. 335 million in the corresponding period previous year
  • Contributes 19% to Total Revenue

Awards and Accreditations: -

• Quick Heal Technologies Limited Granted US Patent for its Signature-less Behaviour-based Detection Technology by the United States Patent and Trademark Office (USPTO) (U.S. Patent No. US20170124327A1)

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 across multiple product categories – endpoints, network, data and mobility.

With its state-of-the-art R&D centre and deep intelligence on the threat landscape, Quick Heal helps in simplifying security by delivering the best in class protection against advanced cyber-attacks. Its 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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