Subex, a pioneer in the space of Digital Trust, today announced its consolidated financial results for the quarter ended September 30, 2020.
Performance Highlights 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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EBITDA for the quarter at INR 254 million as against INR 207 million in Q2FY20
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EBITDA excluding Forex gains/losses for the quarter at INR 298 million as against INR 178 million in Q2FY20
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Profit after Tax (PAT) for the quarter at INR 123 million as against INR 63 million in Q2FY20
Vinod Kumar, Managing Director & CEO, Subex, said, “During a period where the industry as a whole is continuing to come to grips with the ‘new normal’, we are very pleased to report both revenue and profit growth for the second quarter of FY21. Market traction, along with our singular focus on Digital Trust, is slowly building the growth momentum.
Despite the challenges of remote working, we are performing well on delivery and operations. With the recent appointment of our new CTO, we have augmented the management bandwidth required to drive an exciting product roadmap intended to expand our digital trust portfolio. We will also be strengthening our engagement with global strategic partners around our new solutions and technology areas such as blockchain, AI/ML to drive wider market adoption.“
Commenting on the results,
Anil Singhvi, Chairman of the board, said, “Despite business challenges globally due to Pandemic, Subex has done very well. Continued good performance on all fronts, cleaned up balance sheet and improved free cash flows, are enabling us to invest in newer businesses and service our reduced capital base well”
Highlights of the Quarter
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Launched Partner Ecosystem Management which will allow CSPs to accelerate their digital services portfolio expansion
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Listed as a Sample Provider for Augmented Analytics in Gartner’s Emerging Technologies and Trends Impact Radar for Artificial Intelligence in Telecom report
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Selected by a Tier-I Middle East operator for ROC Revenue Assurance and ROC Fraud Management
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Secured a new deal with a regulatory body in Africa to validate the revenues reported by operators in the region and the associated license fees
Update on Capital Reduction
Completed the capital reduction process
Trading of new Subex shares commenced w.e.f. 5th November, 2020
About Subex
Subex is a pioneer in enabling Digital Trust for businesses across the globe.
Founded in 1994, 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.