Subex Systems' profit doubles

Subex Systems, the Bangalore-based telecom software company has more than doubled its net profit to Rs. 10.28 crores in the year ended March 31, 2001 from Rs. 5.03 crores in the corresponding period in 1999-2000. Revenue has grown to Rs. 55.24 crores from Rs. 31.21 crores.

With the announcement of a bonus issue in the ratio of 1:1, the equity base stands enhanced to Rs. 7.12 crores. The company has declared a dividend of 20 per cent for the financial year 2001.

The net profit, before depreciation and taxation, has more than doubled to Rs. 12.47 crores from Rs. 6 crores. Depreciation and amortisation accounted for Rs. 2.08 crores (Rs. 37.71 lakhs) and taxation Rs. 11.72 lakhs (Rs. 60 lakhs).

The company had acquired IV Generation Inc in 2000. According to Mr. Subash Menon, Chairman and Managing Director, ``the integration of IVth Generation Inc with Subex Systems has progressed in keeping with our expectations.

VST Industries

VST Industries has achieved a net profit of Rs. 27.50 crores for the year ended March 31, 2001 against Rs. 15.70 crores. The turnover was higher at Rs. 755.82 crores against Rs. 745.98 crores. The directors have recommended a higher dividend of 25 per cent against 10 per cent in 1999-2000.

After providing Rs. 3.59 crores (Rs. 13.83 crores) towards interest charges, Rs. 5.02 crores (Rs. 6.16 crores) for depreciation, the net profit was higher at Rs. 30.04 crores against Rs.18.38 crores. The provision for taxation was Rs. 2.54 crores (Rs. 2.68 crores). Reserves, excluding revaluation, stood at Rs. 41.48 crores against Rs. 19.07 crores at the end of March 31, 2000. The paid up equity capital was Rs. 15.44 crores.

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