SUBX.L Regulatory News (SUBX)

SUBEX LIMITED 

(Formerly Subex Azure Ltd)

Registered office: Adarsh Tech Park, Outer Ring Road, Devarabisanhalli

Bangalore - 560 037

Audited financial Results for the year ended 31st March, 2008

(Rs. In Millions)

For the year

For the year

Ended

Ended

31st March

31st March

2008

2007

2008

2007

Audited

Audited

Audited

Audited

Sales - Product & Product related

3,618.48 

2,287.67 

914.72 

1,002.47 

- Services (refer note 5)

1,237.43 

1,121.34 

523.96 

1,116.15 

Net Sales / Income from Operations

4,855.91 

3,409.01 

1,438.68 

2,118.62 

Other Income

552.99 

301.91 

565.90 

243.23 

Total Income

5,408.90 

3,710.92 

2,004.59 

2,361.85 

Expenditure

- Cost of Hardware, Software & Services

84.47 

89.97 

90.69 

88.59 

- Personnel Cost

4,022.37 

2,079.88 

944.48 

1,436.97 

- Other Expenditure

1,119.25 

577.99 

311.65 

238.44 

- Provision for Bad & Doubtful Debts 

290.35 

150.63 

288.69 

150.00 

- Interest

325.47 

87.32 

296.10 

75.35 

- Depreciation and amortisation

184.04 

148.53 

123.10 

113.39 

- Total

6,025.95 

3,134.31 

2,054.71 

2,102.74 

Profit Before Tax

(617.05)

576.61 

(50.12)

259.11 

Taxes 

Income Tax

24.44 

70.23 

17.13 

66.20 

MAT Credit Carried forward

(10.04)

(11.13)

(10.04)

(11.13)

Fringe Benefit Tax

11.93 

5.11 

11.93 

4.89 

Deferred Tax 

37.33 

(163.26)

(7.26)

(9.01)

Net Profit 

(680.71)

675.66 

(61.88)

208.16 

Paid up Share Capital

- Equity (Face value of Rs.10/-)

348.47 

348.16 

348.47 

348.16 

Reserves excluding revaluation reserves

8,059.12 

7,614.74 

Earnings per share - Basic - Not Annualised (Rs. Per share)

(19.49)

21.10 

(1.77)

6.50 

Earnings per share - Diluted - Not Annualised (Rs. Per share)

(19.49)

21.02 

(1.77)

6.48 

Aggregate of Public shareholding:*

Number of shares

22,162,022 

18,424,301 

22,162,022 

18,424,301 

Percentage of holding (to total shareholding)

63.60%

52.92%

63.60%

52.92%

* Total public shareholding as defined under clause 40A of the listing agreement (excludes shares held by founders and GDR holders)

SEGMENTAL REPORTING:

(Rs. In Millions)

Consolidated

Standalone

For the year

For the year

Ended

Ended

31st March

31st March

2008

2007

2008

2007

Audited

Audited

Unaudited

Unaudited

1. Segmental Revenue:

a. Products & Product related

3,618.48 

2,287.67 

914.72 

1,002.47 

b. Services (refer note 5)

1,237.43 

1,121.34 

523.96 

1,116.15 

4,855.91 

3,409.01 

1,438.67 

2,118.62 

2. Segmental Profit/(Loss) before tax, depreciation and Interest

a. Products & Product related

(787.49)

453.85 

(264.95)

111.38 

b. Services (refer note 5)

72.45 

123.98 

26.52 

101.84 

(715.04)

577.83 

(238.43)

213.22 

Less: Interest

325.47 

87.32 

296.10 

75.35 

Add:Other Un-allocable Income net of un-allocable Expenditure

607.50 

234.90 

607.50 

234.90 

Less:Depreciation

184.04 

148.80 

123.10 

113.66 

Profit Before Taxation

(617.05)

576.61 

(50.12)

259.11 

-

-

-

-

Notes to consolidated & standalone results:

1. The above results were taken on record and approved by the Board of Directors in their meeting held on 30th June 2008.

2. The previous year figures have been re-grouped and/or re-arranged to conform with the current year.

3. The company has granted 1,671,700 options under its ESOP 2005 schemes during the year ended 31st March 2008. 

4. During the year, the company has allotted 31,364 shares pursuant to exercise of options by eligible employees.

5. During the quarter ended March 31, 2008 the Company has received the order from Hon'ble High Court of Karnataka for the transfer of Services business to Subex Technologies Ltd, a wholly owned subsidiary of the Company, effective September 1, 2007. Deficit arising out of the transfer of the services business has been adjusted to the securities premium account in terms of the Court order. Pursuant to the above, the standalone results for the year ended March 31, 2008 includes the results of operation for periods up to August 31, 2007 and are hence not comparable to the previous year. Contribution of the service business to the standalone results is available in segment report

6. Information on Investor complaints pursuant to Clause 41 of the Listing Agreement for the quarter ended 31st March 2008 is :

Opening Balance - Nil, Received - Nil, Attended - Nil, Closing Balance - Nil

7. Since fixed assets are used in the Company's business interchangeably, segment wise disclosure on capital employed has not been furnished.

Certain statements in this release concerning our performance may be forward looking statements which involve risks and uncertainties that could cause actual results 

to vary materially from those in such statements. These risks and uncertainties include, and are not limited to, fluctuations in earnings, intense competition, success 

 of investments and our ability to successfully integrate our acquisitions.

By Order of the Board

Bangalore

30th June 2008

Subash Menon

Founder Chairman, Managing Director & CEO

 For further details on the results, please visit our website: www.subexworld.com