Subex Q1 revenue at Rs 77.76 crore, down 5 percent

Subex, a leading global provider of Business Support Systems (BSS) for communications service providers has announced its Q1 revenue of Rs 77.76 crore, down by 5 percent over corresponding quarter last fiscal.

Profit after Tax (PAT) for the quarter at Rs 7.42 crore, up by 246 percent from loss after tax of Rs 5.09 crore in Q1, FY13.

The EBIDTA for the quarter at Rs 15.19 crore as compared to a loss of Rs 0.66 crore in the corresponding quarter last fiscal.

Product revenue for the quarter was at Rs 77.76 crore up from Rs 70.96 crore in the corresponding quarter last fiscal. License & implementation contributed 40 percent, managed services contributed 29 percent and support contributed 31 percent of the total revenues.

Operating profit ex-forex for the quarter was at Rs 14.53 crore up from a loss of Rs 1.92 crore in Q1, FY13. Free cash flow was around Rs 38.32 crore.

Surjeet Singh, CEO & managing director, Subex said, “The business is stable, we are winning new customers and more importantly we are not only profitable on sustainable basis but also cash positive at operating level. Strategically, we are now expanding to help our customers manage network Capex through our path-breaking Asset Assurance portfolio which we believe will provide growth impetus to the company in coming period. Parallely, we are creating Subex 2.0 to move aggressively into Analytics to service our customers holistically.”

Vinod Kumar, chief operating officer, Subex said, “We have maintained EBITDA at around 20 percent and increased our PAT by 246 percent through a sharpened focus on our core products and increased traction of our long-term sustainable Managed Services offering.”

“The first quarter of this financial year has been a record quarter for us, having won more than 10 key managed services contracts for our core offerings, mostly for Tier 1 operators in North America and Europe region. With positive market momentum and uptake on the concept of network capex management through ROC Asset Assurance, we are confident of gaining further traction and growing our revenues as we move forward,” added Kumar.

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