Subex Azure Q1 net dips 50 p.c.

BANGALORE:


Subex Azure Limited, the Bangalore-based telecom software product company

has posted a net profit of Rs 4.02 crore for the first quarter ended June 2006.






The net profits have shown a dip of over 50% over the same quarter previous
year. For the first quarter, the company's total revenue stands at Rs 43.44

crore, an increase of 5.44%, compared to Rs 41.21 crore posted during the same

quarter last year.






Subex had last month announced the closure of the acquisition of UK-based Azure
Solutions. The combined entity is now called Subex Azure Limited. However these

are the financials for the standalone company as the acquisition has not been

consolidated. The consolidation will commence in the quarter ending 30

September, 2006.






Commenting on the combined entity's progress and the results, Subash Menon,
Founder Chairman, Managing Director & CEO, Subex Azure Limited said, “Post the

acquisition of Azure, the integration is progressing on schedule and as per our

plans. Since the closing of the acquisition on June 23rd, the combined entity

has won orders totaling $6.5 Million. This proves that the industry has accepted

this acquisition, with the telcos placing orders on us, viewing us as long term

partners for their revenue maximization efforts”.






Menon reiterated the guidance for the current financial year as that remains
unchanged. The company has guided for a product revenue of Rs. 240 crore and a

PAT of Rs. 65 crore.






During the quarter, the company has issued and allotted 1,109,878 GDRs
representing one share of Rs.10 each at premium of Rs.390 for cash. The GDRs are

listed on the Luxembourg Stock Exchange and were issued to fund the acquisitions

of the company.






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