Quick Heal Technologies will see improved financial numbers over the next 12 months, but will continue to focus on its enterprise solutions business rather than its core consumer business, according to CEO Vishal Salvi. He says he will continue to do so.
Quick Heal reported a 67.8% decline in consolidated net profit for the quarter ended September 2024 at Rs 4.1 billion compared to Rs 12.9 million in the year-ago period. The company’s revenue for the quarter also fell 6.2% year-on-year to Rs 735 billion, compared to Rs 78.4 million in the year-ago period.
In an interview with NDTV Profit, Salvi said the company is making a “significant pivot” from its consumer business and is making investments to focus more on its enterprise solutions sector.
“We’ve always said we’re investing, but we’ve made a big pivot away from our consumer business, and we’re also seeing great results with our enterprise business. We’ve said we’re looking at long-term plans for enterprise products and solutions.”
He said the slowdown in growth was a result of government deal delays. However, the chief executive added that he expects to see improvement over the next 12 months.
“We’re constantly improving our order pipeline, so it’s looking better. In general, our second half has always been better than our first half. In terms of performance, we expect a significant improvement quarter over quarter. “We can do that,” he said.
