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Subex Net Profit Down
India based OSS/BSS vendor, Subex has recorded consolidated revenue of US$26 million, and consolidated net profit, before exceptional items, of US$3.7 million for the quarter ended 30 June 2010. Product revenue stood at US$22 million contributing to 85 percent of the consolidated revenue. Consolidated EBITDA for the period stood at 26 percent, up from 16 percent in Q1 of FY 2010.
Including exception items though, the net profit was down at US$5.4 million, compared to US$7.5 million a year ago.
Commenting on the business, Subash Menon, Founder Chairman, Managing Director and CEO, said, "We are seeing increased interest in our ROC platform. Customers across the globe are also fast warming up to the Managed Services offering we provide. The significant improvements in the product and consolidated EBITDA in the first quarter of FY 2011 are testimony to this, and that is very encouraging for us. We are looking forward to a great year with increased adoption of our ROC offerings and deeper customer engagements."
Subex's says that it has more than 300 installations across 70 countries.
Updated 30th July 2010: Corrected the previous year comparison - due to currency conversion error.
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