Quick Heal Technologies has allotted 350 equity shares under ESOP on 25 January 2023. With this allotment, the paid up equity share capital has increased to Rs 53,07,38,510/- divided into 5,30,73,851 Nos. of Equity Share of Rs 10/- each.

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Pre-tax loss stood at Rs 12.07 crore in Q3 FY23 as against pre-tax profit of Rs 19.57 crore in Q3 FY22. Revenue from operations declined 16.1% to Rs 66.8 crore in Q3 FY23 compared with Rs 79.6 crore in Q3 FY22.

Total expense rose 29.3% to Rs 63.68 crore in Q3 FY23 as against Rs 82.34 crore in Q3 FY22. Cost of raw material stood at Rs 0.21 crore (down 25% YoY), employee benefit expense rose 21.04% YoY to Rs 40.38 crore.

The company reported negative EBITDA of Rs 11.4 crore in Q3 FY23 as against positive EBITDA of Rs 20.5 crore in Q3 FY22. EBITDA margin declined to 17.0% in Q3 FY23 from 27.72% in Q3 FY22.

Enterprise and Government segment grows sustainably showing YoY growth for the 10th straight quarter. Revenues rose 13% to Rs 24 crore in Q3 FY23 as compared with Rs 22 crore in the same period of the corresponding year.

Retail segment revenue declined by 20% to Rs 51 crore for Q3FY23 as compared to Rs 64 crore in the same period of the corresponding year.

Dr. Kailash Katkar, managing director and chief executive officer, Quick Heal Technologies, said, “We are witnessing signs of short-term contraction in the consumer market due to lowering of global IT spends. We have taken several initiatives towards the businesses and is showing early signs of success during the initial phase. While some parts of the business might be under stress in the short term, we will continue to invest in research and development (R&D) and S&M for our long-term success. Through these efforts we have pivoted ourselves from a consumer AV player to a wholistic cybersecurity player with new age products under our umbrella.”

Navin Sharma, chief financial officer, Quick Heal Technologies, said, We will continue to invest for our long-term win as our balance sheet is strong and we are a zero-debt company. We have completed our recent buy-back worth Rs 185 crore, inclusive of taxes.”

Quick Heal Technologies is engaged in the business of providing security software products. The company caters to both domestic and international market.

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Net loss of Quick Heal Technologies reported to Rs 9.29 crore in the quarter ended December 2022 as against net profit of Rs 14.28 crore during the previous quarter ended December 2021. Sales declined 16.10% to Rs 66.80 crore in the quarter ended December 2022 as against Rs 79.62 crore during the previous quarter ended December 2021.

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Quick Heal Technologies will hold a meeting of the Board of Directors of the Company on 24 January 2023.

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