Subex Ltd soars in Q1 of FY 2011

Revenue at Rs. 118.7 cr;

Net Profit (before exceptional items) at Rs. 17 cr
Up from Rs. 2 cr in FY 2010 Q1

Quarter ended 30 June 2010 – Key Highlights

• Consolidated Revenue at Rs. 118.7 cr (USD 26 mn)
• Consolidated Net Profit (before exceptional items) at Rs. 17 cr (USD 3.7 mn), up from Rs. 2 cr in FY 2010 Q1
• Product Revenue at Rs. 101.4 cr (USD 22 mn)

29 July 2010

Bangalore, INDIA: Subex Ltd, a leading global provider of Operations and Business Support Systems (OSS/BSS) for communications service providers, announced today that it has recorded consolidated revenue of Rs. 118.7 cr (USD 26 mn), and consolidated net profit, before exceptional items, of Rs. 17 cr (USD 3.7 mn) for the quarter ended 30 June 2010. Product revenue stood at Rs. 101.4 cr (USD 22 mn) contributing to 85 percent of the consolidated revenue.

The company posted an impressive product EBITDA of Rs. 32.6 cr as against Rs. 20.1 cr 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.”

For more information on the ROC please visit www.subexworld.com.