Business IdeasSubex posts Q2 net loss of Rs 3.2 crore
Bangalore-based telecom solutions provider, Subex, reported a loss of Rs 3.2 crore for the second quarter ended September 30, from a net loss of Rs 71.6 crore in the corresponding quarter last fiscal.
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Revenue for the second quarter dipped 22.7 per cent at Rs 109.7 crore from Rs 142 crore registered in the same quarter last year.
On a sequential basis (quarter ended June 30), the company had a net profit of Rs 35 crore — but revenue dipped 6.7 per cent from Rs 117.6 crore.
“Our EBIDTA has moved from 14 per cent to 18 per cent. Business has stabilised along with order intake and future looks positive,” said Subhash Menon, founder chairman, managing director and CEO, Subex.
The company also stated, in its announcement on the Bombay Stock Exchange, that it has invited holders of its outstanding $180 million (2 per cent) coupon convertible unsecured bonds, to offer exchange of any of such bonds for a new dollar denominated convertible bonds.