Subex Announces FY19 Results with Consolidated Revenue of INR 3,481 million and EBITDA* of INR 514 million
13TH MAY 2019, BENGALURU, INDIA – Subex, a leading telecom analytics solution provider, today announced its consolidated financial results for the year ended March 31, 2019.
Performance Highlights for the year ended March 31, 2019:
- Revenue for the year at INR 3,481 million as against INR 3,243 million in FY18, up by 7.3%.
- EBITDA* for the year at INR 514 million as against INR 508 million in FY18, up by 1.1%.
- Profit after Tax (PAT) for the year at INR 252 million as against INR 207 million in FY18, up by 21.7%.
Performance Highlights for the quarter ended March 31, 2019:
- Revenue for the quarter at INR 1,019 million as against INR 823 million in FY19 Q3, up by 23.8%
- EBIDTA* for the quarter at INR 269 million as against INR 76 million in FY19 Q3, up by 254%.
- Profit after Tax (PAT) for the quarter at INR 129 million as against INR 21 million in FY19 Q3, up by 514%.
Highlights of the Year
- Announced the launch of multi-vertical anomaly detection solution, CrunchMetrics with a market potential of $2.25B
- Won multi-million-dollar contract from Optus to deploy its ROC Network Asset Management solution
- Announced a multi-year partnership with Econet Wireless Zimbabwe to deploy Analytics Centre of Trust
- Announced a 5-Year multi-million-dollar partnership with BTC to implement Integrated Revenue Assurance & Fraud Management, Partner Settlement, and Route Optimization solutions
- Partnered with Telefonica on a new Cybersecurity Venture
- Announced partnership with Town of Florence, Arizona to cyber-secure critical infrastructure
- Awarded IoT Security Platform of the Year by Compass Intelligence
- Awarded three Pipeline Awards for the Big Data & Analytics, Managed Services and Security & Assurance categories
- Launched next-gen digital fraud prevention solution to help telcos proactively deal with existing and emerging fraud types
- Appointment of Mr. George Zacharias as an Independent & Non-Executive Director of the Company with effect from May 13, 2019
Vinod Kumar, Managing Director & CEO, Subex said, “This has been a year of moving from stability to growth phase for Subex. FY19 has been a successful year both from a strategy and execution perspective where we met expectations.
We started off the year by defining a 3-Horizon strategy with an objective to be the pioneers in Digital Trust across multiple verticals. We have reinvigorated our core offerings in Horizon 1 with the infusion of AI/ML, empowering our customers to embrace digital disruption. This has enabled us to significantly improve our competitive advantage and perform well on our core areas, thereby providing us the necessary platform to pursue newer growth areas. We have also successfully achieved targets that we had set for ourselves in the new offerings in Horizon II like IoT Security and Analytics, and the demand in these areas continues to grow. Further in line with our Horizon III plans, we launched CrunchMetrics, which has opened a huge addressable market for us. Both Horizon II and III offerings allow us to adopt subscription-based revenue models that presents us with exponential growth opportunities.
I am happy to state that all these efforts have resulted in us securing a 30% increase in new business acquisition over last year and thereby providing the necessary impetus for a stronger FY 20. Digital trust is emerging as a key pillar of digital economy and being a major player in this space will help in significant value creation for all our stake holders in the coming years
Mr. Anil Singhvi, Chairman, said “It gives me great pleasure to welcome Mr. George Zacharias as an Independent & Non-Executive Director. George is a very experienced business leader and we are extremely pleased to have someone of his caliber and expertise join our Board. On behalf of the board and everyone at Subex, I would like to welcome George to the Subex family.”
Subex is a pioneer in enabling Digital Trust for businesses across the globe.
Founded in 1992, Subex has spent over 25 years in helping global Communications Service Providers maximize their revenues and profitability.
With a legacy of having served the market through its world-class solutions for business optimization and analytics, Subex is now leading the way by enabling all-round Digital Trust in the business ecosystems of its customers. Focusing on privacy, security, risk mitigation, predictability and confidence in data, Subex helps businesses embrace the disruptive changes in the business landscape and succeed with Digital Trust.
Subex leverages its award-winning product portfolio in areas such as Revenue Assurance, Fraud Management, Network Analytics, and Partner Management, and complements them through its digital solutions such as IoT Security and Insights. Subex also offers scalable Managed Services and Business Consulting services.
Subex has more than 300 installations across 90+ countries.
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*EBITDA excludes forex