SUBEX Ltd Q1FY21 consolidated net profit drops QoQ basis to Rs. 15.16 crore

SUBEX LTD. has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.89.66 crores during the period ended June 30, 2020 as compared to Rs.107.62 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.15.16 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.31.99 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.0.28 for the period ended June 30, 2020 as compared to Rs.0.59 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 89.66 crs	₹ 107.62 crs	-16.69%
Net Profit	₹ 15.16 crs	₹ 31.99 crs	-52.61%
EPS	₹ 0.28	₹ 0.59	-52.54%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.89.66 crores during the period ended June 30, 2020 as compared to Rs.79.31 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.15.16 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.5.28 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.0.28 for the period ended June 30, 2020 as compared to Rs.0.10 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 89.66 crs	₹ 79.31 crs	13.05%
Net Profit	₹ 15.16 crs	₹ 5.28 crs	187.12%
EPS	₹ 0.28	₹ 0.10	180%

Vinod Kumar, Managing Director & CEO, Subex said, "Q1FY21 witnessed a drastic change in our business operations with most of our workforce and customers functioning remotely. The agility shown by Subexians to adapt to remote working along with a robust business continuity plan ensured minimal disruption to our customer engagements, resulting in a positive first quarter of revenue growth and profitability as compared to Q1FY20.

The rising demand for connectivity and remote collaboration will lead to the increased relevance of Digital Trust. Towards catering to these new opportunities, we are committed to strengthening our portfolio through investments in Augmented Analytics, Al, Blockchain, and Security."

Commenting on the results Anil Singhvi, Chairman of the board, said, "I am pleased that Subex has done very well despite the challenges posed by COVID-19 globally and has shown tremendous resilience under Vinod's leadership. Today, Subex has a very strong balance sheet, is debt-free, and has a net cash balance of over INR100crs, giving us ample room to invest in many exciting areas. With Share capital reduction, which is awaiting few final approvals, I believe Subex is well poised for growth and creating value for all its stakeholders."
Shares of SUBEX LTD. was last trading in BSE at Rs.10.49 as compared to the previous close of Rs. 10.43. The total number of shares traded during the day was 271345 in over 405 trades.

The stock hit an intraday high of Rs. 10.65 and intraday low of 10.08. The net turnover during the day was Rs. 2786025.

Source : Equity Bulls

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