Quick Heal Technologies Reports Strong Financial Performance in Q1 2024

Jul 27 2024 04:48 PM IST
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Quick Heal Technologies, a smallcap IT software company, has reported a strong financial performance in the quarter ending June 2024. With a 131.6% increase in PAT and 36.64% growth in net sales, the company has shown its ability to generate profits. However, its non-operating income is a concern. MarketsMojo has given a 'Buy' call for the stock.

Quick Heal Technologies, a smallcap IT software company, has recently announced its financial results for the quarter ending June 2024. The company has shown a very positive performance in terms of its financials, with a significant growth in both Profit After Tax (PAT) and Net Sales.

According to the latest financial report, Quick Heal Tech's PAT has grown by 131.6% year on year, reaching Rs 4.03 crore. This is a clear indication of the company's strong financial health and its ability to generate profits. The net sales have also shown a growth of 36.64% year on year, reaching Rs 70.29 crore. This positive trend in sales is expected to continue in the near future.

MarketsMOJO, a leading stock market analysis and recommendation platform, has given a 'Buy' call for Quick Heal Tech's stock. This is a testament to the company's strong financial performance and its potential for growth in the market.

However, the company's non-operating income, which is 105.20% of its Profit Before Tax (PBT), is a cause for concern. This indicates that a significant portion of the company's income is coming from non-business activities, which may not be sustainable in the long run.

Overall, Quick Heal Technologies has shown a very positive financial performance in the quarter ending June 2024. With a strong PAT and net sales growth, the company is well-positioned for future success in the IT software industry. Investors can consider adding Quick Heal Tech's stock to their portfolio for potential growth opportunities.
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