Subex Azure incurs net loss of Rs 34.82 cr in Q2

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Bangalore, Oct 23 (UNI) Subex Azure Ltd, the leading vendor of Operations Support Systems (OSS) solutions for telecom operators, today announced a revenue of Rs 102.98 crore and net loss of Rs 34.82 crore for the quarter ended September 30.

The revenue from products for this period stood at Rs 71.59 crore, contributing 69.52 per cent to the total revenue. The revenue from services for this period stood at Rs 31.39 crore, contributing 30.48 per cent, a company release said.

Revenue for the corresponding quarter last year was Rs 102.97 crore, with product revenue at Rs 74.11 crore and services revenue at Rs 28.86 crore. The PAT during this period last year stood at Rs 16.37.

The half-yearly revenue for the present fiscal stood at Rs 234.64 crore, an increase of 60.12 per cent from the same period last year.

The H1 product revenue was at Rs 172.01 crore and that of services at Rs 62.63 crore.

Commenting on the business, Subash Menon, Founder Chairman, Managing Director and CEO, said, "As the company was focused on integration of subsidiary Syndesis during the first half of this year, revenue was severely impacted. This situation will get corrected in the second half of the year on the back of enhanced execution. Order booking continues to be strong and the backlog for the rest of the year is in line with expectation, to meet the annual guidance." UNI

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