Subex announces FY14 Q3 Results with strong EBITDA growth of 27%

MUMBAI, India - Feb. 12, 2014 - PRLog -- Subex Ltd, a leading global provider of Business Support Systems (BSS) for Communications Service Providers, today announced its financial results for the third quarter ended December 31, 2013.

Performance Highlights for the quarter ended December 31, 2013

Revenues for the quarter at Rs. 9,144 lacs (US$ 15.3 million)

Up by 7% QoQ from Rs 8,544 lacs
License & Implementation at 43%, Managed Services at 25%, Support at 32% of the total revenue

·         EBIDTA ex forex for the quarter at Rs. 2,645 lacs (US$ 4.4 million)

o   Up by 27% QoQ from  Rs. 2,088 lacs (US $ 3.6 million)

Operating Profit ex-forex for the quarter at Rs. 2,585 lacs (US$ 4.3 million)

o    Up by 27.5 % QoQ from Rs. 2,028 lacs (US$ 3.43 million)

Profit after Tax (ex forex) for the quarter at Rs. 535 lacs (US$ 0.9 million)

Up by 16 % QoQ from Rs. 461.6 lacs (US$ 0.78 million)
Forex Gain/(loss) for the quarter at Rs. (1,379) lacs (US$ -2.30 million) as compared to forex gain/(loss) of Rs. (305) lacs ( US$ -0.52 million) for the previous quarter

Surjeet Singh, Managing Director & CEO, Subex Limited said, “We have ended another strong quarter. There is a significant increase in our EBITDA of 27% and our operating margins are up by 27.5% as compared to last quarter. Our performance in the past quarter is true testimony of our clarity of purpose and mission of stability. We recently won five new customer deals, worth USD $10 million, across key emerging markets and going forward are extremely optimistic about our order pipeline. With positive market momentum and uptake of our ROC Asset Assurance and Managed Services offerings, we are confident of gaining greater business traction going forward.”