Subex Q1 FY27: Revenue up 19.6% YoY to ₹7,945 Lakhs, EBITDA grows 59.5%
Subex Limited reported Q1 FY27 revenue growth of 19.6% YoY to ₹7,945 lakhs. Normalized EBITDA surged 59.5% QoQ to ₹1,687 lakhs, with margins improving to 21.2%. Cash reserves stood healthy at ₹18,480 lakhs. The company secured new deals and renewed existing contracts.
The positive financial performance and business development are likely to have a medium-term positive impact on investor sentiment and company valuation.
The company reported strong YoY revenue growth, a significant increase in EBITDA and margins, and healthy cash reserves. New deal wins and renewals also contribute positively.
Subex Limited has announced its financial results for the first quarter of FY27, reporting a significant year-on-year revenue growth of 19.6%. The revenue for Q1FY27 stood at ₹7,945 lakhs, an increase from ₹6,640 lakhs in Q1FY26. Sequentially, revenue grew by 8.9% QoQ.
Normalized EBITDA saw a substantial improvement, rising by 59.5% to ₹1,687 lakhs in Q1FY27, compared to ₹1,058 lakhs in Q4FY26. This growth was primarily attributed to ongoing operational efficiencies, accelerated execution of the order backlog, and the achievement of key billing milestones. Consequently, the normalized EBITDA margin expanded to 21.2% in Q1FY27 from 14.5% in Q4FY26, a 640 basis points increase QoQ.
Normalized Profit Before Tax (PBT) also increased by 27.5% QoQ to ₹1,833 lakhs in Q1FY27 from ₹1,438 lakhs in Q4FY26. The normalized Profit After Tax (PAT) margin stood at 20.3% in Q1FY27, up from 15.8% in Q4FY26, driven by operational performance and non-operating gains.
As of June 30, 2026, the company's cash and cash equivalents were ₹18,480 lakhs, an increase from ₹17,526 lakhs on March 31, 2026. Subex also received a tax refund of ₹288 lakhs in Q1FY27. The Earnings Per Share (EPS) for Q1FY27 was ₹0.26, up from ₹0.18 in Q4FY26.
Business highlights for the quarter include winning a new deal from a European operator for Business Assurance and Fraud Management (BAFM), renewals of Managed Services and License agreements with a Tier 1 Operator in the Middle East, and renewals of Managed Services for BAFM from an African operator. The company also noted that its refocus on PEM is yielding results.
The investor presentation for Q1 FY27 was shared on August 5, 2026, in preparation for an Earnings Call scheduled for August 6, 2026, at 11:00 A.M. IST.
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