IT firm Subex today reported a consolidated net loss of Rs 188.36 crore for the financial year ended March 31, 2009 whereas the same was at Rs 68.07 crore a year ago.
However, the consolidated income from operations rose to Rs 60.34 crore during the FY09 from Rs 48.59 crore of FY08, Subex said in a filing to the Bombay Stock Exchange.
"As the figures indicate, we have closed the year well and have recorded a profit operationally. Our efforts to turn around the business have been successful.
"We are now on a growth track with all hurdles behind us, and we will continue our efforts in building a world-class company," Subex Managing Director and CEO Subash Menon said.
Meanwhile, the company said that its independent director P P Prabhu has resigned from the board of the company on account of health reasons. Shares of Subex slipped 5 per cent to touch its lower trading limit of Rs 48.30 on the BSE.