The shares of software company Quick Heal Technologies Ltd jumped as much as 9.8 percent to Rs 218.25 on Friday, a day after the company's board approved spending up to Rs 150 crore on share buyback.

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The Indian multinational cybersecurity software company will buy back 50 lakh shares for Rs 300 per share.

At 10:14 am, the shares of Pune-based Quick Heal were trading 7.37 percent up at Rs 213.5. The stock had touched a 52-week high of Rs 318.9 in August 2021. The shares had hit 52-week low of Rs 141 on 21 June 2022.

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Quick Heal also reported its financial earnings for the period ended June 2022 on Thursday. The company reported a total income of Rs. 64.28 crore during the period ended June 30, 2022, as compared to Rs. 109.38 crore during the period ended March 31, 2022.

Net sales of the company stood at Rs 61.08 crore in June 2022, up 11.49 percent from Rs 54.78 crore in the same period last year. Quarterly net profit came in at Rs 0.18 crore in June 2022, down 97.09 percent from Rs 6.18 crore in June 2021.

EBITDA or earnings before interest, taxes, depreciation, and amortisation — a measure of a company's overall financial performance — fell 63 percent to Rs 4.25 crore in June 2022 as against the same period last year.

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First Published:Jul 22, 2022 11:27 AM IST