Quick Heal Tech tumbles after Q4 PAT declines 71%

Quick Heal Technologies slumped 9.72% to Rs 104.45 after consolidated net profit declined 71.2% to Rs 7.99 crore on 25.3% fall in net sales to Rs 64.25 crore in Q4 March 2020 over Q4 March 2019.

Profit before tax (PBT) stood at Rs 10.23 crore in Q4 FY20, down by 75.3% from Rs 41.50 crore reported in Q4 FY19. EBITDA shrunk 80.4% to Rs 7.58 crore in Q4 March 2020 from Rs 38.62 crore in Q4 FY19. EBITDA margin stood at 11.80% as on 31 March 2020 as against 44.91% as on 31 March 2019.

The cybersecurity services provider's consolidated net profit fell 19% to Rs 74.41 crore on 9.1% decrease in total revenue to Rs 286.13 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19). PBT stood at Rs 101.31 crore in FY20, down by 26.1% from Rs 137.01 crore in FY19.

Nitin Kulkarni, chief financial officer, Quick Heal Technologies, said,"Our financial performance for the year and quarter were impacted due the lock down imposed due to COVID-19 and the corresponding disruptions to our business. We continue to maintain financial discipline with several cost control measures underway. Our balance sheet remains strong with zero debt and a cash and cash equivalents of around Rs 387 cr."

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.

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