Shares of Quick Heal Technologies Limited are down by over 5% after the co. reported its Q1FY20 numbers yesterday.

In Q1FY20, the IT security firm’s PAT was up 95% yoy to Rs119cr. Revenue rose 8.5% yoy to Rs576cr.

During the quarter, the overall demand for cybersecurity products and solutions in India was not in line with the co.’s expectations. A generic slowdown in demand resulted in pricing pressure in the SMB and consumer segment.

The co. also mentioned that it witnessed slowdown in government buying due to India’s General Elections.

Quick-Heal

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