Subex Net Profit zooms by 64%

By siliconindia staff writer   |   Thursday, 27 January 2005, 08:00 Hrs
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BANGALORE: Subex Systems Limited today announced that it has registered third quarter profit after tax of 842 Lakhs, after an amortization charge of 158 Lakhs. Subex reported the following Q3 (Unaudited) results: Revenue of 3301.27 Lakhs (up from 2285.84 Lakhs in Q3, 2004), Net Profit of 842 Lakhs (up from 514.73 Lakhs in Q3, 2004).

The Board of the Bangalore based telecom software company has recommended an interim dividend of 10% on the Equity Share capital, besides approving the restructure of the Company by transferring the services business to its wholly owned subsidiary Subex Technologies, Inc., subject to the approval of the shareholders.

Subash Menon, President and Chief Executive Officer of Subex Systems, while commenting on the restructuring said, “This restructuring is aimed at improving the focus of the Company on products and further the transformation into a pure products player.”

About the results, Menon said, "Our acquisitions have started bearing results as the integration is almost complete and have contributed 22% to the products revenue in this quarter. Continuing operations have also posted excellent growth by contributing 78% to the products revenue. Profitability is continuing to increase as a manifestation of the growing proportion of products in the overall revenue.”

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