Quick Heal Tech Q3 PAT rises 6% YoY to Rs 14 cr

The cybersecurity software company reported a 6.1% rise in consolidated net profit to Rs 14.3 crore in Q3 FY22 from Rs 13.5 crore posted in Q3 FY21.

Revenue from operations increased by nearly 14% to Rs 79.6 crore in Q3 FY22 from Rs 69.9 crore posted in Q3 FY21. Profit before tax rose 10% to Rs 19.57 crore in Q3 FY22 over Q3 FY21.

EBITDA grew by 24.4% to Rs 20.5 crore in Q3 FY22 from Rs 16.5 crore posted in the same period last year. Meanwhile, EBITDA margin grew by 216 basis points to 25.7% in Q3 FY22 from 23.6% in Q3 FY21.

The company's retail segment revenue stood at Rs 65.2 crore as compared to Rs 60.3 crore in the corresponding period of the previous year, rising 8.1% year on year. Enterprise and Government segment revenue stood at Rs 20.1 crore as compared to R 18 crore in the corresponding period previous year, up by 11.3% YoY.

Dr. Kailash Katkar, MD & CEO of Quick Heal Technologies said, We delivered a robust third quarter in terms of revenue, subscribers, profitability and cash flow which is a testament to our team's strong execution. Our continued commitment to secure our customers' ever-increasing online footprint helped us add 818 thousand new subscribers. The growth in enterprise segment has been promising and we expect the momentum to continue in the coming quarters. In line with our strategy to boost market share, we continue to invest in R&D and strengthen leadership team that will enable us to launch next-generation solutions in the coming quarters.

Navin Sharma, CFO of Quick Heal Technologies said, We delivered solid results in Q3, as continued strong demand for our cybersecurity products across our diversified global go-to-market channels, coupled with our focus on operational discipline, resulted in 14% Y-o-Y growth in Revenue and 24% Y-o-Y growth in EBITDA. In line with our continued focus on R&D and innovation, we spent 27% of revenues as R&D during the quarter. Our balance sheet remains strong with zero debt and cash and cash equivalents of ₹ 3,275 million as on 31st December 2021. We are committed to driving shareholder value by growing profitability across both of our segments and driving solid Unlevered Cash Flow.

Quick Heal Technologies is one of the leading providers of IT security and data protection solutions with a strong footprint in India and an evolving global presence.

Shares of Quick Heal were trading 5.27% lower at Rs 206.85 on BSE.

Powered by Capital Market - Live News