Bangalore: Telecom software product firm Subex Systems Ltd today (Jan 22, 2004) reported a net profit of Rs 5.14 crore, up by 240 per cent over Rs 1.51 crore recorded during the corresponding period last year.

Revenues jumped to Rs 22.85 crore during October to December 2003, up by 30 per cent over Rs 17.56 crore reported during the third quarter last year, a statement said in Bangalore.

"Our top line for this quarter has grown by 30 per cent, while the bottom line for the same period increased substantially by 240 per cent, on a year-on-year comparison. I feel it demonstrates our persistent belief in products and the fact that this space offers higher margins," Subex president and chief executive officer Subash Menon said.

Intel Capital has made strategic investment in Subex, a public-listed firm, in which the promoters hold 45.31 per cent.