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 first quarter ended June 30, 2016.

Performance Highlights for the quarter ended June 30, 2016:
Revenue for the quarter at Rs. 8,334 lacs (US$ 12.5 million)
Up by 13.6% YoY from Rs. 7,337 lacs (US$ 11.6 million) in FY16 Q1
o License & Implementation at 27%, Managed Services at 38% & Support at 35% of the total revenues

EBIDTA ex forex for the quarter at Rs. 1,549 lacs (US$ 2.3 million)
Up by 53.1% YoY from Rs. 1,012 lacs (US$ 1.6 million) in FY16 Q1

Profit after Tax (PAT) for the quarter at Rs. 1,818 lacs (US$ 2.7 million)
Up by 169.7% YoY from Loss of Rs. 2,608 lacs (US$ -4.1 million) in FY16 Q1
Order book as at June 30th 2016 stands at Rs. 98,340 lacs (US $ 149 million)

Surjeet Singh, Managing Director & CEO, Subex Limited said, “We have ended the first quarter of FY17 on a positive note, with an achievement of 100% against target we set out to achieve. We have witnessed significant growth in the emerging markets.” With improved performance and cleanup of Balance Sheet, our credit rating has improved. India Ratings and Research (Ind-Ra) has upgraded the ratings on Subex Limited’s bank facilities as follows:
· Fund based limits: upgraded to Long-term ‘IND BBB+’/Stable from ‘IND BBB/Stable‘.
· Non-fund based limits*: upgraded to Short-term ‘IND A2’ from ‘IND A3+’

“At Subex, we partner customers for mutual success and are constantly committed to nurture existing relationships and build new ones that enable both parties to excel. We are now very excited and look forward to welcoming our long standing customers and partners to the 13th annual Subex User Conference 2016 at Jaipur, India to be held from 25th to 27th October 2016.”