Subex rose 18.51% to Rs 13.06 at 11:22 IST on BSE after consolidated net profit rose 113.80% to Rs 14.41 crore on 21.93% increase in net sales to Rs 112.16 crore in Q4 March 2015 over Q3 December 2014.
The result was announced after trading hours yesterday, 15 May 2015.
Meanwhile, the BSE Sensex was up 57.54 points, or 0.21%, to 27,263.60.
On BSE, so far 27.96 lakh shares were traded in the counter, compared with an average volume of 6.15 lakh shares in the past one quarter.
The stock hit a high of Rs 13.22 and a low of Rs 12.45 so far during the day. The stock hit a 52-week high of Rs 15.80 on 14 November 2014. The stock hit a 52-week low of Rs 7.74 on 24 June 2014.
The stock had underperformed the market over the past one month till 14 May 2015, sliding 18.79% compared with 6.33% fall in the Sensex. The scrip had also underperformed the market in past one quarter, rising 6.17% as against Sensex's 6.49% fall.
The small-cap company has an equity capital of Rs 195.22 crore. Face value per share is Rs 10.
On a consolidated basis, Subex's reported net profit of Rs 10.20 crore in the year ended March 2015 as against net loss of Rs 11.61 crore in the year ended March 2014. Net sales rose 5.82% to Rs 359.83 crore in the year ended March 2015 over the year ended March 2014.
The board in its meeting yesterday, 14 May 2015, has also approved the reset of conversion price of the FCCB III which are convertible into equity shares of the company, from Rs 22.79 to Rs 13 per equity share. As a result of the reset of conversion price, subject to necessary approvals, the said bonds as currently outstanding of face value of $76.53 million would potentially be converted into 32.99 crore shares at an exchange rate of Rs 56.05.
Subex is a leading global provider of Business and Operations Support Systems (B/OSS) that empowers communications service providers (CSPs) to achieve competitive advantage through business optimisation - thereby enabling them to improve their operational efiiciency to deliver enhanced service experiences to subscribers.
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