Subex Ltd, a leading global provider of Business and Operations Support Systems (B/OSS) for Communications Service Providers, recently announced its financial results for the year ended March 31, 2016.

FCCB conversion
— Out of the total outstanding of Rs. 492 cr, Rs. 447 cr bonds have been converted to equity, thereby reducing the long term debt to insignificant levels.

— On account of this conversion interest of Rs. 104 cr which was provided is now reversed, since it is no longer payable. Post the conversion the net worth of the company on consolidated basis is Rs. 727 cr as against Rs. 209 cr as at year end March 31, 2015.

Performance Highlights for the year ended March 31, 2016:

Revenue
— Revenue for the year at Rs. 32,335 lacs
— Major thrust on Managed Services over the last few years growing from under 15% to above 35% to create sustainable platform based services with long term contracts.

New Business / Order booking
— US$ 51million of new business won in FY16 as against US$ 45 million in FY15. Contracted revenue stands at all time high of US$140 million aided by long term Managed Services contracts.
— New initiatives launched for platform based Analytics Services and IOT Security

Profitability
— EBIDTA ex forex for the year at Rs. 7,247 lacs
— Profit after Tax (PAT) after exceptional items for the year at Rs. 5,872 lacs