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Quick Heal Q4 net zooms to Rs 39.7 cr

·2-min read

New Delhi, May 15 (PTI) Security software provider Quick Heal Technologies on Saturday said its consolidated net profit grew manifold to Rs 39.7 crore in the March 2021 quarter.

The company had posted a net profit of Rs 7.9 crore in the year-ago period, Quick Heal said in a regulatory filing.

Its revenues increased 63.9 per cent to Rs 105.2 crore in the quarter under review from Rs 64.2 crore in the January-March 2020 quarter, it added.

For FY21, Quick Heal's consolidated net profit was up 43.8 per cent to Rs 106.9 crore, while revenue grew 16.4 per cent to Rs 333 crore over the previous fiscal.

The Board has announced a dividend of Rs 4 per share, subject to shareholders approval at the ensuing AGM.

'We are delighted to conclude FY21 on a high note...Our ongoing investments in building newer capabilities and strengthening of the leadership team position us well to launch next-generation solutions and build a solid foundation for the enterprise business,' Quick Heal Technologies Managing Director and CEO Kailash Katkar said.

However, the new wave of the pandemic has once again presented a challenging operating environment with lockdown imposed in multiple states, he added.

'As vaccination picks up momentum, we are hopeful that the situation will improve in due course of time,' he said.

Quick Heal Technologies has announced a buyback of about 63.26 lakh equity shares for up to Rs 155 crore at Rs 245 per share.

'...during the last quarter, we announced buyback of equity shares, which also fits with our robust capital allocation policy and should be EPS (Earnings per share) accretive,' Quick Heal Technologies CFO Nitin Kulkarni said.

The company's balance sheet remains strong with zero debt and cash and cash equivalents of around Rs 4,809 million, he added. PTI SR MR MR