Subex hits the roof after winning new orders

Subex hit an upper circuit limit of 5% at Rs 9.26 at 12:10 IST on BSE after the company announced that it has won five new customer deals, worth $10 million, across key emerging markets.

The announcement was made during trading hours today, 20 January 2014.

Meanwhile, the BSE Sensex was up 69.67 points, or 0.33%, to 21,133.29.

On BSE, so far 2.12 lakh shares were traded in the counter, compared with an average volume of 2.17 lakh shares in the past one quarter.

The stock hit a low of Rs 8.50 so far during the day. The stock hit a 52-week high of Rs 14.49 on 12 February 2013. The stock hit a record low of Rs 4.41 on 2 August 2013.

The stock had outperformed the market over the past one month till 17 January 2014, rising 12.07% compared with the Sensex's 2.19% rise. The scrip had also outperformed the market in past one quarter, rising 7.43% as against Sensex's 3.17% rise.

The small-cap company has an equity capital of Rs 166.64 crore. Face value per share is Rs 10.

Subex said it participated and won these highly competitive bids against competition to provide its revenue assurance, fraud management and credit risk management solutions, few of them as managed services. Two of the wins are from APAC, two from North Africa and one from the Middle East.

Vinod Kumar, Chief Operating Officer said, "We have started the new year strongly. We have been on top of the pack winning highly competitive bids. These wins give us great impetus to remain focused on larger opportunities as we continue to make investments in key markets and expand our footprint. With renewed focus on our core products and with increased market momentum for our ROG Asset Assurance solution, we are fairly optimistic of growth in Subex 2.0."

On a consolidated basis, Subex's net profit tumbled 78.98% to Rs 1.56 crore on 9.88% increase in net sales to Rs 85.44 crore in Q2 September 2013 over Q1 June 2013.

Subex is a leading global provider of Business Support Systems (BSS) that empowers communications service providers (CSPs) to achieve competitive advantage through Business Optimisation thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.

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