Subex Limited has informed the Exchange about Investor Presentation
SUBEXLTD · price
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Subex reported Q4 FY25 revenue of ₹7,060 lakhs, down 3% from the previous quarter, while full-year Telco revenue held nearly flat at ₹28,016 lakhs versus ₹27,999 lakhs in FY24. The core Telco business returned to profitability, with Normalised EBITDA rising to ₹526 lakhs (from ₹397 lakhs) and Normalised PAT turning positive at ₹66 lakhs versus a loss of ₹178 lakhs in Q3, driven by ~₹22 crores in cost optimization. Telco EBITDA margins swung to +4% from -4% a year ago, with five of the last six quarters posting positive EBITDA. On the negative side, Non-Telco revenue collapsed to ₹545 lakhs from ₹2,973 lakhs, triggering a ₹1,689 lakh provision on disputed receivables, and a ₹34 crore tax refund remains pending.
The Telco turnaround and margin recovery are positive signals for shareholders, but the Non-Telco write-down and unreceived tax refund are near-term overhangs. Watch for sustained margin improvement and recovery of the pending tax refund as key catalysts.