Quick Heal truns around

Quick Heal Technologies rose over 10% to Rs.216.65, recording a sharp almost 3.5 times rise in volumes.

The market is enthused with the company’s turnaround performance. The company posted a whopping 248% (YoY0 jump in standalone revenue at Rs.104 crore. This naturally helped the overall profitability – EBITDA came in at Rs.55 crore v/s loss of Rs.22 crore. It clocked a net profit of Rs.39 crore v/s loss of Rs.11 crore in previous Q2.

The company had made a forgettable debut on the bourses and after over 18 months since IPO, it continues to trade at a discount to the issue price. Quick Heal had issued shares at Rs.321 apiece in its IPO. The company raised Rs.451.3 crore through the issue, which saw investors put in subscriptions for 10 times the number of shares on offer.