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Wednesday, Oct 30, 2002

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US service business pulls Subex net up

Our Bureau

BANGALORE: Subex Systems, the Bangalore-based telecom software maker, has reported a 161 per cent rise in net profits for second quarter ended September, 2002 at Rs 3.24 crore, up from Rs 1.24 crore in the corresponding quarter previous year. Revenues increased by 28 per cent to Rs 18.36 crore, from Rs 14.39 crore. Commenting on the results, Mr Subhash Menon, President and Chief Executive Officer, said, "Our services business in the US has done exceedingly well in the past quarter and that reflects directly in the results. With nearly 38 per cent of the revenues coming from products, we believe we are right on track, as per our strategy.''

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