Subex Azure Limited, the Bangalore-based Telecom Software Product company announced today that it has registered a first quarter profit after tax of Rs. 40.28 Million (US $0.88 Million). Subex reported the following (Unaudited) results for the first quarter in FY07: Revenue of Rs. 483.8 Million (US $10.5 Million) Net Profit of Rs. 40.28 Million (US $0.88 Million)

These are the financials for the stand alone company as the acquisition has not been consolidated. The consolidation will commence in the quarter ending 30th September, 2006.

Subex had last month announced the closure of the acquisition of UK-based Azure Solutions. The combined entity is now called Subex Azure Limited. Commenting on the combined entity’s progress and the results, Mr. Subash Menon, Founder Chairman, Managing Director & CEO, Subex Azure Limited said, “Post the acquisition of Azure, the integration is progressing on schedule and as per our plans. Since the closing of the acquisition on June 23rd, the combined entity has won orders totaling US $6.5 Million. This proves that the industry has accepted this acquisition, with the telcos placing orders on us, viewing us as long term partners for their revenue maximization efforts”.

Mr Menon reiterated the guidance for the current financial year as that remains unchanged. The company has guided for a product revenue of Rs. 2400 Million (US $53 Million) and a PAT of Rs. 650 Million (US $14 Million).

About Subex Azure Limited
Subex Azure Limited is the world’s largest vendor of Revenue Maximization solutions for telecom operators. Subex Azure has pioneered the strategic concept of a Revenue Operations Centre (ROC) and envisions it as a centralized and integrated operational infrastructure to monitor, control and assure the integrity of the revenue chain. Headquartered in Bangalore, India, Subex Azure is the world’s No. 1 vendor for Fraud Management and Revenue Assurance solutions and the 2nd largest vendor for Interconnect and Inter Party Billing solutions. Subex Azure’s RevMaxâ„¢ is an integrated suite of best-in-class software solutions that power the ROC. Subex Azure counts amongst its customers, 23 of the world’s largest 40 telcos and has a customer base of over 150 customer installations in more than 60 countries.