Subex Q3 net decline 53% at Rs 7.68 crore

Total income stood at Rs 90.6 crore from Rs 131.4 cr in same period last year

Bangalore-based telecom solutions company Subex Ltd witnessed a 53% decline in its net profit to Rs 7.68 crore for the third quarter of FY13 ended December 31, 2012 as against Rs 16.37 crore in the corresponding quarter previous year. The total income of the company for the quarter stood at Rs 90.60 crore from Rs 131.42 crore registering a decline of 31% when compared to the same period last year.

The company attributed the decline in profit to higher finance costs of around Rs 14.45 crore during the quarter due to higher FCCB interest. The operating profit of the company for the period ended December 31, 2012 stood at Rs 22.76 crore. The company also said during the quarter it had a forex gain of Rs 3.52 crore as against a forex loss of Rs 11.49 crore for the previous quarter.
On the BSE the shares of the company closed at Rs 11.44 witnessing a decline 1.63% as against the previous day's closing.