Subex Azure records RS.103.1 cr revenue during q2, PAT Rs,74.1 cr

Bangalore, Oct 30 (UNI) A dominant player in fraud management and revenue maximisation solutions for Telecom Companies, Subex Azure today announced a 137 per cent increase in its revenue for the second quarter at Rs.103.1 crore, up from Rs.43.4 crore.

Subex Chairman and Managing Director Subash Menon told newsmen here that the Profit After tax of Rs.17.1 crore was up by 356 per cent from Rs.3.7 crore in the first quarter.

Consolidated half yearly revenue was Rs.146.5 crore, with net profit zooming to Rs.20.8 crore.

He said good growth refected the company's incrased focus oncontinuously providing a higher level of choice to customers in existing and newer markets following the Azure Systems acquisition in April this year.

The product revenues had increased significantly to touch 72 per cent of the total revenue in September and this would close, as anticipated at 80 per cent next fiscal.

He said the Board had decided to sponsor a GDR/GDS issue subject to a maximum of nine million shares, amounting to 25 per cent of the total shares. The Issue would be listed on a major Euroipean Exchange. Some of the existing shareholders would be offloading their shares with the share quoting around Rs.550 currently. The listing of the Share in a European Bourse would give more visibility to the company which had majority of shareholders in Europe, he added.

He said the company had successfully integrted its global businesses, employees and products of the two companies-Subex and Azure. The results of the integration had been reflected in the strong financial performance of the new combined entity during the second quarter of the current fiscal.

Mr Menon said the quarter saw strong growth and momentum in Subex Azure;s business worldwide.''Subex has enormous potential to grow'' he said adding that the company was well on track to achieve a 100 million dollar turnover in fiscal 2008.

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