Net Income from Operations at Rs. 819.75 mln, Product EBITDA at Rs.57.84 mln
BANGALORE, INDIA – Subex Ltd, a leading global provider of Business Support Systems (BSS) for Communications Service Providers, announced today that it has recorded Net Income from Operations at Rs. 819.75 mln (USD $ 15.12 mln) for the first quarter of FY13. Net loss (before exceptional items and taxes) stood at Rs. 39.40 mln (USD $ 0.73 mln) as compared to profit of Rs. 148.30 mln (USD $ 2.74 mln) in FY12 Q1.
The Net Consolidated Income from Product and Product related Operations for the company stood at Rs. 708.64 mln (USD $ 13.07 mln) contributing to 86.45% of the consolidated revenue. The company posted a Product EBITDA of Rs.57.84 mln (USD $ 1.07 mln) while the Consolidated EBITDA for the period stood at Rs. 54.02 mln (USD $ 1.00 mln) compared to Rs. 272.36 mln (USD $ 5.02 mln) in Q1 of FY 2012.
Commenting on the business, Subash Menon, Founder, Managing Director and CEO, said, “While the business climate is definitely quite tough with strong head winds in Europe and the telecom industry experiencing bad times, we are confident of maintaining our leadership position in the Business Optimisation space. Our current quarter results have been impacted by the change in revenue recognition and this will get evened out during the year. This change was essential to be in line with the changes in our revenue model.”
In the recent past, leading analyst firm Gartner ranked Subex as the market leader in the Revenue Assurance and Fraud Management for the second year in succession while Analysys Mason declared Subex the market leader in Business Optimisation for an unprecedented fifth year in succession.
About Subex Limited
Subex Limited is a leading global provider of Business Support Systems (BSS) that empowers communications service providers (CSPs) to achieve competitive advantage through Business Optimisation - thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.
The company pioneered the concept of a Revenue Operations Center (ROC®) – a centralized approach that sustains profitable growth and financial health through coordinated operational control. Subex's product portfolio powers the ROC and its best-in-class solutions such as revenue assurance, fraud management, credit risk management, cost management, route optimization, data integrity management and interconnect / inter-party settlement.
Subex also offers a scalable Managed Services program and has been the market leader in Revenue Assurance and Fraud Management according to Gartner (2010 & 2011). Subex has also been declared market leader in Business optimization for four consecutive years by Analysys Mason (2007, 2008, 2009 & 2010). Business Optimisation includes fraud, revenue assurance, analytics, cost management and credit risk management. Subex has been awarded the Global Telecoms Business Innovation Award 2011 along with Swisscom for the industry’s first successful Risk Reward Sharing model for Fraud Management.
Subex's customers include 28 of top 50 operators* and 33 of the world’s 50 biggest# telecommunications service providers worldwide. The company has more than 300 installations across 70 countries.
*GTB Carrier Guide, 2011