Subex Ltd Net Profit grows 302.54%, EBITDA grows 48.98%
Bangalore, INDIA – Subex Ltd a leading global provider of Operations and Business Support Systems (OSS/BSS) for Communications Service Providers, announced today that it has recorded product revenue of Rs. 4279.61 mln for the year ended 31 March 2011. The Net Profit (before exceptional items) for the same period stood at Rs. 838.26 mln up by 302.54%.
Year on year growth of EBITDA has been significant. The company EBITDA for FY11 stood at Rs. 1411.17 mln, up by 48.98% from FY10, and the product EBITDA stood at Rs. 1400.18 mln, up by 48.47%.
Commenting on the business, Subash Menon, Founder Chairman, Managing Director and CEO, said, “We end this year on an extremely positive note. We are significantly profitable once again owing to the increased traction of our Revenue Operations Centre (ROC®) and multi-million dollar customer wins for our Managed Services offering globally. We are confident that we will continue to sustain this growth both in terms of revenue and profit”.
He further added, “The changing nature of our contracts has led to deeper relationships with our customers and better visibility and stability. We are confident of much better times ahead.”