Better cost management and gains from restatement of foreign currency convertible bonds (FCCBs) helped telecom software maker Subex Ltd bounce back into the black in the June quarter.
The company posted a net profit of Rs 35.12 crore on revenues of Rs 122.7 crore for the June quarter compared with a loss of Rs 65.6 crore on revenues of Rs 136.49 crore for the June quarter last fiscal.
Product revenues for the quarter stood at Rs 94.35 crore, accounting for 80.23 per cent of the overall revenues.
The rupee movement against the dollar during the quarter resulted in a gain of Rs 50.6 crore from the restatement of FCCBs.
The company also saw its employee-related costs decline to Rs 81.6 crore (Rs 106.1 crore).
Friday, July 31, 2009
Subex back in black on FCCB restatement
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