Subex Ltd. announces FY12 Q3 results

Subex Ltd, a leading global provider of Business Support Systems (BSS) for Communications Service Providers, announced recently that it has recorded strong growth and profitability for its Product Business (Business Optimization or RMS). The company has recorded Net Consolidated Revenue of Rs. 1328.69 mln (USD 26.05 mln) for the third quarter of FY12 up from Rs. 1267.72 mln (USD 24.86 mln) in FY11 Q3. The Order Intake for the Continuing Product Business grew 15.5% at US $ 23.1 mln up from US $ 20 mln in FY11 Q3. Net Profit (before exceptional items) grew at Rs. 285.38 mln (USD 5.60 mln) up from Rs. 240.41 mln (USD 4.71 mln) in FY11 Q3.

The Product Revenue for the company stood at Rs. 1187.29 mln (USD 23.28 mln) contributing to 89.36 % of the consolidated revenue. The company posted a Product EBITDA of Rs 439.76 mln (USD 8.02 mln) while the Consolidated EBITDA for the period stood at Rs. 443.83 mln (USD 8.70 mln) as compared to Rs. 386.63 mln (USD 7.58 mln) in Q3 of FY 2011.

Commenting on the business, Subash Menon, Founder Chairman, Managing Director and CEO, said, “We are extremely happy that the results for this quarter have turned out to be as promising as expected. We continue to have a good market share in Business Optimization space and the increasing uptake for our industry leading Revenue Operations Center (ROC®) and Managed Services offering is proof of the same. Our Product EBITDA stood at Rs. Rs 439.76 mln (USD 8.02 mln) and we expect this to grow in the coming quarter”.

EBITDA Grows 15% sequentially to Rs. 444 mln

• Net Profit (before exceptional items) at Rs. 285.38 mln up from Rs. 240.41 mln in FY11 Q3
• Product revenue contributes 89.36% to the total revenue
• Product EBITDA improves to 37.04%

Quarter ended 31 December 2011 – Key Highlights

• Net Consolidated Revenue at Rs. 1328.69 mln (USD 26.05 mln), up from Rs. 1267.72 mln (USD 24.86 mln) in FY11 Q3
• Net Profit (before exceptional items) at Rs. 285.38 mln (USD 5.60 mln) up from Rs. 240.41 mln (USD 4.71 mln) in FY11 Q3
• Revenue from Products at Rs. 1187.29 mln (USD 23.28 mln)