Quick Heal Technologies records profit up by 10.61% in H1FY21

The Company delivered good performance despite the macroeconomic risks arising from the Covid-19 pandemic situation.

Nov 09, 2020 01:11 IST India Infoline News Service

Quick Heal Technologies Limited, one of the leading providers of cybersecurity and data protection solutions to consumers, businesses and Government, reported its reviewed and audited results for the half year ended September 30, 2020.

Quick Heal Technologies Ltd is trading at Rs159.05 per piece down by Rs7.75 or 4.65% from its previous closing of Rs166.80 on the BSE, at around 1:50pm.

The scrip opened at Rs166.50 and has touched the day's high and low of Rs167.25 and Rs157.15 respectively.

Consolidated Financial Highlights:

The Company delivered good performance despite the macroeconomic risks arising from the Covid-19 pandemic situation.
(Rs million)
Q2FY21 Q1FY21 qoq Change H1FY21 H1FY20 yoy Change
Revenue 844.13 734.62 14.91% 1,578.75 1,561.77 1.09%
EBITDA 390.86 321.36 21.63% 712.22 605.82 17.56%
EBITDA Margin 46.30% 43.75% 255 bps 45.11% 38.79% 632 bps
PAT 288.35 249.58 15.53% 537.93 486.33 10.61%
PAT Margin 34.16% 33.97% 19bps 34.07% 31.14% 293 bps

Dr. Kailash Katkar, Managing Director & Chief Executive Officer, Quick Heal Technologies Limited, said; “We have delivered good performance despite the uncertainties posed by the Covid-19 pandemic.We recordedmarginalrevenue growth for the first half, however, EBITDA has grown strongly by 17.6%. Our enterprise businesshas picked up with a growth of 5% in Q2 as compared to last year.The recent discovery of ‘Operation SideCopy’, an Advanced Persistent Threat (APT) targeting defence forces, is atestament to our prowess in uncovering previously unseen and highlysophisticated threats. I am also happy to update that we have further strengthened our R&D leadership team with the appointment of global experts to drive expansion of next-generation security products and solutions.”

Mr. Nitin Kulkarni, Chief Financial Officer, Quick Heal Technologies Limited,added “We delivered good performanceduring volatile times as India slowly came out of the lockdown and we were able to resume our operations. Our margins have improved in H1 due to better overhead management and continuous cost optimisation efforts. We were able to manage our working capital in an efficient way which has resulted in better cash flow. Our balance sheet remains strong with zero debt and a cash and cash equivalents balance of Rs 448 cr.”

Segmental Performance for half year ended 30thSeptember 2020
  • Retail segment revenue at Rs143.5cr compared to Rs133.6cr in H1FY20. Retail segment contributed 83.5% to total revenue in H1FY21
  • Enterprise and Government segment revenue at Rs28.4cr compared to Rs31.7cr in H1FY20.Enterprise segment contributed 16.5% to total revenuein H1FY21

Key updates for the quarter:
  • Quick Heal Security Labs uncovered a new Advanced Persistent Threat (APT) targeting India’s Defence Forces. Dubbed as ‘Operation Sidecopy’, threat actors behind this campaign were found misleading the security community by copying Tactics, Techniques, and Procedures (TTPs) that pointed at the Sidewinder APT group.  However, researchers at Quick Heal Security Labs discovered strong evidence of ‘Operation Sidecopy’, having potential links with Pakistan backed – Transparent Tribe group. This is a breakthrough discovery making Quick Heal Technologies the first cybersecurity company to expose the real identity of these threat actor
  • Quick Heal Technologieshas further strengthened its R&D leadership team with the appointment of global experts, Mr. Sanjay Agrawal and Mr. Bibhuti Kar as Chief Product Officer and Head of Research and Development respectively
  • Quick Heal Technologiesappointed Air Marshal (Retd) BhushanNilkanthGokhale as Additional Independent Director with effect from August 12, 2020

Related Story