Subex Q4 results: IT services firm reports profit of Rs 16 cr

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NEW DELHI: IT services firm on Monday posted a consolidated net profit of Rs 15.6 crore for the fourth quarter ended March 31, 2021.

The company had posted a net profit of Rs 31.99 crore in the year-ago period, Subex said in a BSE filing.

Revenue from operations was at Rs 96.16 crore during the quarter under review compared to Rs 104.27 crore in the corresponding period of the previous year, it said.

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Revenue from operations for the quarter and year ended March 31, 2020 included revenue from sale of hardware amounting to Rs 993 lakh, it added.

For 2020-21, net profit was at Rs 51.72 crore as compared to a loss of Rs 269.15 crore in the previous fiscal year. This includes Rs 290 lakh as exceptional gain in 2020-21 and Rs 31,770 lakh as exceptional loss in 2019-20, a statement said.

Revenue was up 1.9 per cent at about Rs 372 crore in 2020-21 from about Rs 365 crore in the preceding financial year, the filing said.

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“Subex has performed well in FY21 despite the challenges due to the pandemic, and has closed Q4 with increased growth and profitability. The successful completion of the capital reduction has helped the company’s balance sheet to become leaner and in line with the size of the business,” Subex Chairman Anil Singhvi said.

He added that the company is making good progress in the new areas and there is early interest for HyperSense – Subex’s new augmented analytics platform, and a path towards successful transition to a SaaS-based business.

“Encouraged by good cash balances, we are happy to recommend a final dividend of 5 per cent, together with interim dividend of 10 per cent, total dividend for the FY21 is 15 per cent. It will be our endeavour to deploy the cash into new age businesses and keep rewarding shareholders with the idle cash,” he said.

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Subex Managing Director and CEO Vinod Kumar said despite the challenging situation posed by the pandemic, the company ended the year on a positive note with a steady revenue and improved profitability.

“We have made significant strides towards enhancing our product portfolio. We have added new capabilities to our Partner Ecosystem Management offering, and the solution is garnering positive interest,” he added.

Kumar noted that Subex’s partnerships on Blockchain with other industry players will help in accelerating its adoption to solve the real-life challenges of the telecom industry.

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“Our IoT Security solution has also been enhanced to now cover Operational Technology (OT) use cases. We have also seen positive traction for our Capacity Management solution in the last year. Besides these product lines, we have augmented our overall solution suite to support 5G and other digital requirements,” he said.

The current fiscal year will be very exciting for Subex as it enters a new era for the company with the launch of HyperSense – its no-code, end-to-end augmented analytics platform, he said.

“HyperSense will be a gamechanger for both our customers as well as Subex…For Subex, HyperSense marks the start of the company’s platform journey and will improve our ability to roll out products to the market faster,” Kumar added.

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