Cybersecurity solutions provider Quick Heal on Saturday said its consolidated net profit stood at Rs 6.2 crore for the June 2021 quarter against Rs 25 crore in the year-ago period. Its revenue was at Rs 54.8 crore in the first quarter of FY22, while the same was at Rs 73.5 crore in the April-June 2020 period, Quick Heal said in a regulatory filing.
"As a result of the spillover of revenue from Q4FY20 to Q1FY21, the results are not comparable with Q1 of last year," the filing said.
Quick Heal Technologies Managing Director and CEO Kailash Katkar said the company has delivered good performance in yet another challenging quarter, which was severely disrupted by the second wave of COVID-19.
"If the revenue spill over of Rs 280 million in Q1 FY21 is left aside, we have registered double-digit growth year-on-year," he added.
The growth in the enterprise segment has been promising and the company expects the momentum to continue in the coming quarters, Katkar said. "Our accelerated efforts towards new product development is bearing positive fruit with 'Seqrite Hawk'' range of next-generation cybersecurity solutions making its debut with 'Seqrite HawkkEye'. With more product launches planned under the 'Seqrite Hawkk' umbrella, we are looking forward to explore future growth opportunities,” he said.
Quick Heal Technologies Chief Financial Officer Nitin Kulkarni said the company continued to maintain financial discipline while growing its business to capitalise on the industry tailwinds with improved EBIDTA margins.
"The company enjoys comfortable liquidity position with strong balance sheet and cash in hand of Rs 2,968 million and are rightly positioned to tap the growth opportunities," he added.
The company said its retail segment revenue stood at Rs 42.8 crore as compared to Rs 66.8 crore in the corresponding period of the previous year. Enterprise and government segment revenue was at Rs 14.5 crore as compared to Rs 10.4 crore in the corresponding period previous year.
"Enterprise segment's contribution of 25 per cent has been in line with our strategy to boost our market share in this segment," it added.
