Subex Azure's net profit at Rs 40.28 million

Bangalore, July 27 (UNI) Subex Azure Limited, the city-based telecom software product company, today announced that it has registered a profit after tax of Rs 40.28 million on a revenue of Rs 483.8 million during the first quarter of the current fiscal.

Subex had last month announced the closure of the acquisition of UK-based Azure Solutions. The combined entity was now called Subex Azure Limited.

Announcing its unaudited results, the company said in a release here that these were the financials for the stand alone company as the acquisition had not been consolidated. The consolidation would commence in the quarter ending September 30, 2006.

Commenting on the combined entity's progress and results, company Founder-Chairman, Managing Director and CEO Subash Menon said ''Post the acquisition of Azure, the integration is progressing on schedule and as per our plans. Since the closing of the acquisition on June 23, the combined entity has won orders totaling US Dollars 6.5 million. This proves that the industry has accepted this acquisition, with the telcos placing orders on us, viewing us as long term partners for their revenue maximisation efforts.'' He reiterated that the guidance for the current financial year remained unchanged. The company had guided for a product revenue of Rs 2,400 million and PAT of Rs 650 million.

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