Subex announces Q1FY21 results; Reports 12.3% YOY growth
10TH AUG 2020, BENGALURU, INDIA – Subex, a pioneer in the space of Digital Trust, today announced its consolidated financial results for the quarter ended June 30, 2020.
Performance Highlights for the quarter ended June 30, 2020:
- Revenue for the quarter at INR 887 million as against INR 790 million in Q1FY20
- EBIDTA for the quarter at INR 296 million as against INR 175 million in Q1FY20
- Profit after Tax (PAT) for the quarter at INR 152 million as against INR 53 million in Q1FY20
Vinod Kumar, Managing Director & CEO, Subex said, “Q1FY21 witnessed a drastic change in our business operations with most of our workforce and customers functioning remotely. The agility shown by Subexians to adapt to remote working along with a robust business continuity plan ensured minimal disruption to our customer engagements, resulting in a positive first quarter of revenue growth and profitability as compared to Q1FY20.
The rising demand for connectivity and remote collaboration will lead to the increased relevance of Digital Trust. Towards catering to these new opportunities, we are committed to strengthening our portfolio through investments in Augmented Analytics, AI, Blockchain, and Security.”
Commenting on the results Anil Singhvi, Chairman of the board, said, “I am pleased that Subex has done very well despite the challenges posed by COVID-19 globally and has shown tremendous resilience under Vinod’s leadership. Today, Subex has a very strong balance sheet, is debt-free, and has a net cash balance of over INR100crs, giving us ample room to invest in many exciting areas. With Share capital reduction, which is awaiting few final approvals, I believe Subex is well poised for growth and creating value for all its stakeholders.”
Highlights of the Quarter
- Selected by one of the world’s largest mobile network providers, headquarted in Europe, for a multi-region ROC Fraud Management deployment
- Selected by a Tier-I European operator for its ROC Fraud Management solution
- Secured a deal with a Tier-I North American operator for its Partner Settlement solution for managing Content Billing
Update on Capital Reduction
- Obtained approval from Shareholders for the proposed capital reduction.
- Filed the application seeking approval from National Company Law Tribunal (‘NCLT’)
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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