Quick Heal Technologies gains after investments in US subsidiary

Quick Heal Technologies rose 4.78% to Rs 247.80 at 11:05 IST on BSE after the company said it capitalised its wholly-owned subsidiary.

The announcement was made after trading hours yesterday, 3 March 2016.

Meanwhile, the BSE Sensex was down 9.37 points, or 0.04%, to 24,616.36.

On BSE, so far 7.73 lakh shares were traded in the counter, compared with an average volume of 14.76 lakh shares in the past two weeks. The stock hit a high of Rs 254.50 and a low of Rs 239.10 so far during the day.

The small-cap company has an equity capital of Rs 70.03 crore. Face value per share is Rs 10.

Quick Heal Technologies said it has invested $125000 in its US subsidiary Quick Heal Technologies America Inc, which is engaged in the same line of business as the company. The revenue from operations for the said subsidiary for the financial year 2014-2015 was at $29582.

Shares of Quick Heal Technologies debuted on stock market on 18 February 2016. Based on consolidated financials, Quick Heal Technologies reported net profit of Rs 24.22 crore on revenue from operations of Rs 148.18 crore for six months ended 30 September 2015. Net profit stood at Rs 53.80 crore on revenue from operations of Rs 286.11 crore for the year ended 31 March 2015.

Quick Heal Technologies is one of the leading providers of security software products and solutions in India, with a market share of over 30% in the retail segment. The company's end customers include home users, small offices and home offices (SOHO), small and medium-sized business (SMBs), enterprises, educational institutions, as well as government agencies and departments.

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