Performance Highlights for the quarter ended June, 2021:
- Revenue for the quarter at INR 806 million as against INR 887 million in Q1FY21.
- EBIDTA for the quarter at INR162million as against INR 296 million in Q1FY21
- Profit after Tax (PAT) for the quarter at INR135million as against INR 152 million in Q1FY21
Commenting on the results, Vinod Kumar, Managing Director & CEO, Subex, said:
“Businesses are still coming to terms with the uncertainty brought in by the second wave of COVID-19, and this has had some bearing on our ability to deliver projects as several Subexians were infected during Q1. Even though the project delivery delays had negatively impacted our Q1 revenues, we will be able to get to our growth targets in the coming quarters.
At Subex, our focus has been on fostering sustainable innovation translating into a profitable portfolio that is future proof. Towards this we launched HyperSense which is a no-code AI platform that enables enterprises to achieve accelerated growth through AI. It was very well received by the market, and we are in advanced stages of engagement with multiple operators. Additionally, we have also witnessed some notable wins for our newer offerings of IoT/OT Security and Identity Analytics. With markets fully opening in many geographies, many new projects that were put on hold due to pandemic have been reinitiated. All these will result in increased opportunities and therefore growth in coming quarters.”
Highlights of the Quarter
- Subex launched HyperSense to scale up AI offering for the next phase of growth.
- Subex Secure and Spire Solutions entered a strategic partnership and won a project to secure a leading oil and gas company in the Middle East
- A Middle East operator partnered with Subex for a multi-million-dollar Capacity Management deal.
- Subex partnered with Snowflake to bring the power of AI-driven augmented analytics to customers.
- Subex Inc. received loan waiver from US Govt. under Paycheck Protection Program