Subex dropped 13.06% to Rs 44.25 after the company's consolidated net profit tanked 60.65% to Rs 4.82 crore on a 7.49% decline in revenue from operations to Rs 86.30 crore in Q2 FY22 over Q2 FY21.
Consolidated EBIDTA for the quarter stood at Rs 9.90 crore as against Rs 25.40 crore in Q2 FY21, registering a fall of 61.02% Y-o-Y.
Commenting on the Q2 results, Vinod Kumar, the managing director & chief executive officer (CEO) of Subex, said: We have ended the second quarter of the year with results that are below our expectations primarily due to delays in initiation of some large projects. However, our Digital Trust strategy continues to gain traction, and this has ensured that the order book remains intact. The quarter witnessed several key wins, particularly for our new product range validating customers' adoption for our new range of solutions like IDcentral and Sectrio."
"HyperSense continues to see positive uptake. To engage the wider customer community, we have also released a SaaS-based offering of our Al Studio, and the feedback has been highly positive so far. We are working with TM Forum and several operators globally to create a robust framework for the 5G marketplace and measurement of Trust in Al. These, along with the recent patent that we obtained on revenue management at the edge of the network, will help redefine the way revenue is managed and optimized in a highly interconnected world powered by 5G and loT."
Meanwhile, Subex announced the transfer of RMS business worth Rs 95 crore from Subex Assurance LLP, a material wholly-owned subsidiary of the company, to itself. The transaction is expected to be completed by February 2022.
Subex is a leading telecom analytics solution provider and leveraging its solution in areas such as revenue assurance, fraud management, partner ecosystem management.
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