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Friday, Apr 29, 2005

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Subex net up at Rs 26 cr

Our Bureau

Bangalore , April 28

SUBEX Systems Ltd has reported a 45-per cent rise in net profit at Rs 25.72 crore on revenues of Rs 116 crore that grew by 33 per cent for 2005 fiscal over the previous year.

Revenues from the products business grew by 58 per cent, accounting for 53 per cent of the overall revenues. The board has recommended a final dividend of Rs 2 per share (20 per cent on par value)

The Subex CEO, Mr Subash Menon, said, "The growth in products eclipsed the growth in services, as we had expected, besides significant growth in the profitability of the products segment. The acquisitions have turned profitable in the past six months. We expect complete payback from them by March 2006."

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