The fundamentals of Subex, the Indian RA vendor, continue to look stronger and stronger, after they posted solid results for their third quarter. Profits before exceptionals doubled year-on-year. However, whilst last year’s figures benefited from a major exceptional forex gain on borrowings, this year saw a modest exceptional loss. This dragged down PAT after exceptionals to below that seen last year. Looking beyond such fluctuations, Subex’s management have a lot of reason to be happy. Most especially they are generating a higher proportion of income from products sold to established customers. This should guarantee that the profitable core of Subex’s business is increasingly long-term and secure.
Good Q3 for Subex Dented by Forex Swing
The fundamentals of Subex, the Indian RA vendor, continue to look stronger and stronger, after they posted solid results for their third quarter. Profits before exceptionals doubled year-on-year. However, whilst last year's figures benefited from a major exceptional forex gain on borrowings, this year saw a modest exceptional loss. This dragged down PAT after exceptionals to below that seen last year. Looking beyond such fluctuations, Subex's management have a lot of reason to be happy. Most especially they are generating a higher proportion of income from products sold to established customers. This should guarantee that the profitable core of Subex's business is increasingly long-term and secure.
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