• Net Profit (before exceptional items) at Rs. 285.38 mln up from Rs. 240.41 mln in FY11 Q3
• Product revenue contributes 89.36% to the total revenue
• Product EBITDA improves to 37.04%

Quarter ended 31 December 2011 - Key Highlights

• Net Consolidated Revenue at Rs. 1328.69 mln (USD 26.05 mln), up from Rs. 1267.72 mln (USD 24.86 mln) in FY11 Q3
• Net Profit (before exceptional items) at Rs. 285.38 mln (USD 5.60 mln) up from Rs. 240.41 mln (USD 4.71 mln) in FY11 Q3
• Revenue from Products at Rs. 1187.29 mln (USD 23.28 mln)

Bangalore, INDIA - Subex Ltd, a leading global provider of Business Support Systems (BSS) for Communications Service Providers, announced today that it has recorded strong growth and profitability for its Product Business (Business Optimization or RMS). The company has recorded Net Consolidated Revenue of Rs. 1328.69 mln (USD 26.05 mln) for the third quarter of FY12 up from Rs. 1267.72 mln (USD 24.86 mln) in FY11 Q3. The Order Intake for the Continuing Product Business grew 15.5% at US $ 23.1 mln up from US $ 20 mln in FY11 Q3. Net Profit (before exceptional items) grew at Rs. 285.38 mln (USD 5.60 mln) up from Rs. 240.41 mln (USD 4.71 mln) in FY11 Q3.

The Product Revenue for the company stood at Rs. 1187.29 mln (USD 23.28 mln) contributing to 89.36 % of the consolidated revenue. The company posted a Product EBITDA of Rs 439.76 mln (USD 8.02 mln) while the Consolidated EBITDA for the period stood at Rs. 443.83 mln (USD 8.70 mln) as compared to Rs. 386.63 mln (USD 7.58 mln) in Q3 of FY 2011.

Commenting on the business, Subash Menon, Founder Chairman, Managing Director and CEO, said, "We are extremely happy that the results for this quarter have turned out to be as promising as expected. We continue to have a good market share in Business Optimization space and the increasing uptake for our industry leading Revenue Operations Center (ROC®) and Managed Services offering is proof of the same. Our Product EBITDA stood at Rs. Rs 439.76 mln (USD 8.02 mln) and we expect this to grow in the coming quarter".

About Subex Limited
Subex Limited is a leading global provider of Business Support Systems (BSS) that empowers communications service providers (CSPs) to achieve competitive advantage through Business Optimization - thereby enabling them to improve their operational efficiency to deliver enhanced service experience to subscribers.

The company pioneered the concept of a Revenue Operations Center (ROC®) - a centralized approach that sustains profitable growth and financial health through coordinated operational control. Subex's product portfolio powers the ROC and its best-in-class solutions enable revenue assurance, fraud management, data integrity management, cost management and interconnect / inter-party settlement. Subex also offers a scalable Managed Services program and has been the market leader in Business Optimization for four consecutive years. Subex has been awarded the Global Telecoms Business Innovation Award for 2011 along with Swisscom for industry's first successful Risk Reward Share model for fraud management.

Subex's customers include 16 of top 20 wireless operators worldwide* and 26 of the world's 50 biggest# telecommunications service providers. The company has more than 300 installations across 70 countries.

*RCR Wireless list, 2010
#Forbes' Global 2000 list, 2010