Subex Ltd, a leading global provider of Business Support Systems (BSS) for Communications Service Providers, today announced its financial results for the first quarter ended June 30, 2013.

Performance Highlights for the quarter ended June 30, 2013

Profit after Tax (PAT) for the quarter at Rs. 742 lacs (US$ 1.3 million)
Up by 246% from loss after tax of Rs. 509 lacs (US$ 0.9 million) in FY13Q1

· EBIDTA for the quarter at Rs. 1,519 lacs (US$ 2.7 million)

o At 19.5% compared to loss of Rs. 66 lacs (US$ 0.1 million) in FY13Q1

Product Revenue for the quarter at Rs. 7,776 lacs (US$ 14 million)
Up from Rs. 7,096 lacs (US$ 12.8 million) in FY13Q1
License & Implementation at 40%, Managed Services at 29% & Support at 32% of the total revenues

Operating Profit ex-forex for the quarter at Rs. 1,453 lacs (US$ 2.6 million)
o Up from a loss of Rs. 192 lacs (US$ 0.3 million) in FY13Q1

Free cash flow of Rs. 3,832 lacs (US$ 6.5 million)

Surjeet Singh, CEO & Managing Director, Subex Limited said, “We are pleased with our operating results for the quarter. The business is stable, we are winning new customers and more importantly we are not only profitable on sustainable basis but also cash positive at operating level. Strategically, we are now expanding to help our customers manage network Capex through our path-breaking Asset Assurance portfolio which we believe will provide growth impetus to the company in coming period. Parallely, we are creating Subex 2.0 to move aggressively into Analytics to service our customers holistically.”

Vinod Kumar, Chief Operating Officer, Subex Limited said, “We have maintained the EBITDA at around 20% and increased our PAT by 246% through a sharpened focus on our core products and increased traction of our long-term sustainable Managed Services offering.” He added, “The first quarter of this financial year has been a record quarter for us, having won more than 10 key Managed Services contracts for our core offerings, mostly for Tier 1 operators in North America and Europe region. With positive market momentum and uptake on the concept of network capex management through ROC Asset Assurance, we are confident of gaining further traction and growing our revenues as we move forward.”

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