Quick Heal Technologies Limited (“Quick Heal”), India’s leading IT Security Software Products and Solutions provider, reported its audited results for the quarter and financial year ending 31st March 2018.
Kailash Katkar, Managing Director & Chief Executive Officer, Quick Heal Technologies Limited, said; “We are happy to report highest ever quarterly performance in Q4. We have seen a strong pick up in our Retail segment post GST implementation and were able to sustain the growth momentum in the following quarters. Our Retail Segment which started the year with a degrowth ended with flattish revenue indicating continued customer confidence in our brand. However, the Enterprise & Government Segment grew by 14% resulting in overall growth of 6% at Company level. The growth momentum in the Enterprise & Government segment is mainly driven by rising acceptance of ‘Seqrite’ as the preferred brand for securing the data against rising threat of cyber-attacks. With India moving towards digitization, we see a shift in retail and enterprises preference to secure their digital assets which gives us the confidence of increasing acceptability of cyber-security products going forward.”
Nitin Kulkarni, Chief Financial Officer, Quick Heal Technologies Limited, added “The quarter 4 performance is a testimony to our strong business fundamentals supported by a great product line. During the quarter, we were able to improve our profitability margins lead by focused cost optimization strategy. GST impacted our working capital by 11 days. Adjusting for that one-time impact, we have seen improvement in receivable days compared to last year. We are actively working to reduce our working capital cycle through various strategies.”
Vijay Mhaskar, Chief Operating Officer, Quick Heal Technologies Limited, commented “With rising awareness of cybersecurity among individuals and enterprises, we see the demand for IT security solutions going up from hereon. Our ability to cater to diverse needs of our customers through a range of products and specialized services supported by strong customer support makes us preferred partners for robust IT security solutions that our customer is looking for. We have always endeavored to be ahead of the curve in terms of our Research & Development efforts and will continue offering future-ready products to our customers.”
