Subex has announced its financial result for the first quarter of financial year 2013. Net income from operations stood at Rs 819.75 million, while EBITDA was Rs 57.84 million for the quarter under consideration.
Net consolidated income from product and product related operations stood at Rs 708.64 million, which constituted 86.45 per cent of the company?s consolidated revenue.
Subex also posted a net loss (before exceptional items and taxes) of Rs 39.40 million.
Commenting on the results, Subash Menon, founder, managing director and chief executive officer, said, ?While the business climate is definitely quite tough with strong head winds in Europe and the telecom industry experiencing bad times, we are confident of maintaining our leadership position in the business optimisation space.?
He further added, ?Our current quarter results have been impacted by the change in revenue recognition and this will get evened out during the year. This change was essential to be in line with the changes in our revenue model.?
