The company had posted a net profit of Rs 17.7 crore in the year-ago period, Quick Heal Technologies said in a regulatory filing.
Its total revenue, however, grew 6.3 per cent to Rs 69.8 crore in the quarter under review, from Rs 65.7 crore in the year-ago period.
“We delivered good revenue performance during the third quarter as the Indian economy slowly started recovering from the COVID-19 pandemic.
“On the R&D front, with the appointment of industry veterans like Sanjay Agrawal and Bibhuti Kar, we have accelerated new product development efforts to strengthen our enterprise business under ‘Seqrite’,” Quick Heal Technologies Managing Director and CEO Kailash Katkar said.
He added that the company recently announced additional investment in Israel-based L7 Defense that reiterates its commitment to invest in disruptive technologies that will shape the future of cybersecurity while supporting innovative startups.
“With economy slowly recovering and increase in cybersecurity awareness, we are confident to end the year on a positive note,” he said.
Nitin Kulkarni, chief financial officer of Quick Heal Technologies, said the company has “performed better in what traditionally remains a weak quarter for us” with quarterly revenue growing 6.3 per cent on year-on-year basis.
“…we have increased our investments in advertisements and continued focus in R&D innovations have affected our margins. Our balance sheet remains strong with zero debt and a cash and cash equivalents balance of Rs 4,787 million,” he said.
