As the COVID-19 situation continues to evolve globally, I would first like to take a moment to wish that each and every one of you is safe and healthy.
It gives me a great sense of relief to state that amidst this unprecedented pandemic, we have been able to prioritize the safety and well-being of all Subexians while ensuring very minimal impact to our operations due to our transition towards a remote working environment. It goes without saying that this wouldn’t have been possible without the commitment of every Subexian, and the unconditional support of all our customers.
On the business front, our focus and our product alignment around Digital Trust continues to see positive uptake across all our stakeholders. Beyond investments in technology, we recently onboarded our new Chief Technology Officer, Suresh Chintada, who we believe will provide us with the right ammunition and technical edge required to strengthen our offerings towards being the front-runner of enabling Digital Trust.
I am also happy to state that we have seen a very positive Q2FY21, during a period where the industry as a whole is continuing to come to grips with the ‘new normal.’ With an increase in revenue and profitability, Q2FY21 marks yet another quarter of growth, building on the strong performances we have been witnessing in our previous quarters. Continued good performance, cleaned up balance sheet and improved cash flows are enabling us to invest in newer business and service our capital base well. All these have resulted in investor confidence resulting in an increase in our market capital by over 300% in the last 6 months.
As we continue to strengthen our capabilities around high impact areas such as Blockchain, AI, Security, and Augmented Analytics, we are confident that our customers see greater value in our offerings, putting us on a continued growth path to having a strong FY21.
Stay healthy and stay safe!
Vinod Kumar, MD and CEO, Subex
Revenue Growth and Increased Profitability mark Subex’s Q2FY21 Results
Subex, a pioneer in the space of Digital Trust, today announced its consolidated financial results for the quarter ended September 30, 2020. Revenue for the quarter at INR 933 million as against INR 857 million in Q2FY20.
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