Subex Ltd released its financial results for the fourth quarter of FY25 on Friday, May 2, 2025.
In Subex Q4 results, the company posted a consolidated net loss of ₹17.6 crore. This denotes a significant 88.8% year-on-year (YoY) rise from the ₹156.5 crore loss reported in the same quarter of the previous fiscal year.
The results were released after the market hours on Friday. Following this result, the shares of Subex Ltd. [NSE: SUBEXLTD] opened almost flat and were trading 2.79% higher (₹11.79 at around 9.30 AM on 5th May) from the previous closing price (₹11.47).
For the final quarter of FY25, Subex Ltd recorded a YoY decline of 15.8% in its revenue from operations, reaching ₹70.6 crore. This figure is up from ₹83.8 crore in the corresponding quarter last year.
Furthermore, the latest quarterly disclosure revealed a reduction in its total income, which fell by 15.2% to ₹73.4 crore in Q4 FY25, a decline from ₹86.5 crore reported in the same period the previous year.
Subex Ltd. Q4 Results Highlights
In this table, you will get an overview of Subex latest quarterly results:
| Q4 FY2024-25 | Q3 FY2024-25 | Q4 FY2023-24 | YoY Growth (%) | QoQ Growth (%) | |
| Total Income (₹ in crore) | ₹73.4 | ₹73.8 | ₹86.5 | -15.2% | -0.5% |
| Net profit (₹ in crore) | ₹-17.6 | ₹-3.3 | ₹-156.5 | 88.8% | -433.3% |
| EPS (Diluted) | ₹-0.3 | ₹-0.06 | ₹-2.8 | 89.3% | -400% |
Subex Ltd’s Financial Results Comparison with the Previous Year
Here is a table of annual data comparison of Subex Q4 2025 results:
| FY 2024-25 | FY 2023-24 | |
| Total Income (in crore) | ₹292.6 | ₹316.5 |
| Net profit (in crore) | ₹-31.4 | ₹-191.7 |
| EPS | ₹-0.6 | ₹-3.5 |
Updates Shared by Subex in Latest Financial Results
During the announcements of Subex Q4 results, the company’s management provided key updates about the board meeting in their investor presentation:
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Operating Segment Disclosure
The Company operates in the business of software products and related services, which are reviewed as a single segment by the Chief Operating Decision Maker. In accordance with Ind AS 108 – Operating Segments, this constitutes a single reportable segment. Therefore, no separate segment disclosures have been provided.
Important Updates
These are some of the important business updates shared in Subex latest results:
- Q4 revenue decreased by 3%, reaching ₹70.6 crore compared to ₹72.7 crore in Q3.
- For FY25, Telco revenue remained stable at ₹280.2 crore, slightly up from ₹280 crore in FY24.
- Non-Telco revenue for FY25 declined significantly to ₹5.5 crore from ₹29.7 crore in FY24.
- Normalised EBITDA saw a significant improvement, rising to ₹5.3 crore from ₹4 crore in the previous quarter, reflecting a ₹1.3 crore increase primarily due to cost optimisation efforts.
- Normalised Profit Before Tax (PBT) improved to ₹4.1 crore from ₹1.2 crore in the previous quarter, indicating a steady recovery in operating performance.
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Appointment of Statutory Auditors
As per the Subex results, M/s. M.S.K.C & Associates LLP, Chartered Accountants, have been proposed for appointment as the Statutory Auditors of the Company for a term of five consecutive years, starting from the 31st Annual General Meeting (AGM), subject to shareholder approval.
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Sale of ID Central Business Unit
According to Subex Q4 results, Subex Digital LLP, a wholly-owned subsidiary, sold its ID Central business to Handy Online Solution Private Limited (OnGrid) via a slump sale for ₹5.3 crore.
The consideration was received in the form of 104 equity shares of OnGrid (0.75% of OnGrid’s fully diluted share capital).
A profit of ₹4.2 crore, representing the excess of consideration over net asset value and related costs, was recognised as an exceptional item in the consolidated financial results for the year ended March 31, 2025.
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Allowance on Trade Receivables
An impairment allowance of ₹16.9 crore was created for disputed trade receivables, based on the Company’s internal assessment. This amount has been recognised in the consolidated financial results for the quarter and year ended March 31, 2025.
The Company is actively evaluating recovery options but, on a prudent basis, has recognised this impairment allowance.
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Impairment of Goodwill
During the quarter and year ended March 31, 2024, based on an external valuation of goodwill and the significant investment needed to align with the transformation in the telecom sector, the Company recognised an impairment provision of ₹148 crore towards goodwill.
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