SUSubex532348Quarterly results

Subex Q2FY27: revenue up 24.2% YoY to ₹8,559 lakhs, normalised PAT ₹1,430 lakhs

Q2FY27 revenue up 24.2% YoY to ₹8,559 lakhs; normalised PAT ₹1,430 lakhs vs ₹388 lakhs, EBITDA margin down 40bps QoQ.

By ScoutQuest · Tue 3 Nov 2026, 9:35 PM IST · 1 min read

Q2FY27 revenue

₹8,559 lakhs, up 24.2% year on year from ₹6,891 lakhs in Q2FY26

Normalised PAT

₹1,430 lakhs against ₹388 lakhs a year earlier

Normalised EBITDA margin

20.8% in Q2FY27 from 21.2% in Q1FY27, a 40bps quarter-on-quarter decline

Period

Q2FY27

Positioning

Positions itself as a telecom software specialist with 30+ years of telco data expertise, ~70% annuity/recurring revenue, ~92% customer retention and data connectors processing 200bn+ records per instance.

📈 Revenue in Q2FY27 was ₹8,559 lakhs, up 24.2% year on year from ₹6,891 lakhs in Q2FY26 and 7.7% higher quarter on quarter, while normalised PAT was ₹1,430 lakhs against ₹388 lakhs a year earlier and EPS was ₹0.26 versus ₹0.05 in the comparable period.

📉 Normalised EBITDA margin slipped to 20.8% in Q2FY27 from 21.2% in Q1FY27, a 40bps quarter-on-quarter decline, and normalised PBT fell 7.1% QoQ to ₹1,703 lakhs; the company attributes this to a one-time tax refund of ₹288 lakhs in Q1FY27 and says PBT grew 10.2% excluding it. Cash and cash equivalents stood at ₹19,799 lakhs as on 30th Sep 2026.

📉 The revenue mix shifted toward implementation: License implementation and Customization was 42% of Q2FY27 revenue versus 29% in Q2FY26, while Support and others fell to 33% from 42% and Managed Service to 25% from 29%. By region the presentation shows EMEA at 66% of Q2FY27 revenue, America 11%, India 3% and APAC and ROW 20%.

🌍 The presentation lists Q2FY27 order intake — a Partner Ecosystem Management deal with an APAC operator, a new group account in Africa for fraud management at 2 opcos, a Phase 2 PEM order from a Tier 1 Middle East operator, a new European PEM customer and an Americas Hypersense BAFM deal — and says the company is upskilling talent in AI-led SDLC to enhance engineering productivity.

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