Telecom solutions provider Subex today announced that its net profit grew 424.46% at Rs 13.22 crore up in Q1 FY12 from Rs 2.52 crore in Q1 FY11.

The company has recorded net consolidated revenue of Rs 116.95 crore for the first quarter of FY12.

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The product revenue for the company stood at Rs 105.57 crore contributing to 90.27% of the consolidated revenue. The company posted a product EBITDA of Rs 28.60 crore while the consolidated EBITDA for the period stood at Rs 27.19 crore as compared to Rs 32.58 crore in Q1 of FY11.

Subex's customers include 16 of top 20 wireless operators worldwide and 26 of the world's 50 biggest telecommunications service providers. The company has more than 300 installations across 70 countries.

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