Subex announces Q1 results, revenue touches 118.7 Crores

By SiliconIndia   |   Friday, July 30, 2010
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Bangalore: Subex, a provider of Operations and Business Support Systems (OSS/BSS) for communications, announced that it has recorded consolidated revenue of Rs. 118.7 crore ($26 million), and consolidated net profit, before exceptional items, of Rs. 17 crore ($3.7 million) for the quarter ended June 30, 2010. Product revenue stood at Rs. 101.4 crore ($22 million) contributing to 85 percent of the consolidated revenue. The company posted a product EBITDA of Rs. 32.6 croe as against Rs. 20.1 crore in the corresponding quarter of FY 2010, indicating a jump of 17 percent from 14 percent in FY 2010 Q1 to 31 percent in this quarter. Consolidated EBITDA for the period stood at 26 percent, up from 16 percent in Q1 of FY 2010. Commenting on the business, Subash Menon, Founder, Chairman, Managing Director and CEO, said, "We are seeing increased interest in our ROC platform. Customers across the globe are also fast warming up to the managed services offering we provide. The significant improvements in the product and consolidated EBITDA in the first quarter of FY 2011 are testimony to this, and that is very encouraging for us. We are looking forward to a great year with increased adoption of our ROC offerings and deeper customer engagements."
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