Subex gallops after new overseas order win

Subex jumped 11.49% to Rs 12.13 at 14:45 IST on BSE after the company said it has been awarded a new 5-year, multi-million dollar framework contract from BT.

The announcement was made during trading hours today, 3 May 2017.

Meanwhile, the S&P BSE Sensex was up 9.19 points, or 0.03%, to 29,930.37. The S&P BSE Small-Cap index was up 37.93 points, or 0.25%, to 15,458.73.

On BSE, so far 57.67 lakh shares were traded in the counter, compared with average daily volume of 12.56 lakh shares in the past one quarter. The stock hit a high of Rs 12.25 and a low of Rs 11.01 so far during the day. The stock hit a 52-week high of Rs 14.24 on 11 July 2016. The stock hit a 52-week low of Rs 8.25 on 20 January 2016.

The small-cap company has equity capital of Rs 506.91 crore. Face value per share is Rs 10.

Subex announced today, 3 May 2017 that it has successfully been awarded a new 5-year, multi-million dollar framework contract with BT, following on from its existing contract with the communications provider. In common with the previous contract, the new framework contract will cover the on-going provision of Subex's ROC (Revenue Operations Centre) portfolio software solutions, application/operations support, and managed services, Subex said. These are delivered across BT's Domestic & International Interconnect Billing & Settlements, Revenue Assurance and Event Integrity domains, the company said. The ROC enables profitable growth for service providers through coordinated operational control, it added.

Vinod Kumar, COO, Subex said that the company is delighted to have a long-standing relationship with BT and it has successfully completed and renewed a new five-year framework contract, thus continuing its involvement in supporting BT's mission critical business operations and processes. BT is an extremely important customer and the company is happy that it has continued to select Subex's industry leading ROC solutions, Vinod Kumar said.

On a consolidated basis, Subex's net profit surged 131.52% to Rs 22.55 crore on 15.9% rise in net sales to Rs 99.72 crore in Q3 December 2016 over Q2 September 2016.

Subex is a leading global provider of business and operations support systems (B/OSS) that empowers communications service providers (CSPs) to achieve competitive advantage through business and capex optimisation - thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.

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