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.