The company made this announcement during trading hours today, 23 February 2012.

Meanwhile, the BSE Sensex was down 0.26% to 18,144.99.

On BSE, 47,000 shares were traded in the counter as against average daily volume of 2.50 lakh shares in the past one quarter.

The stock hit a high of Rs 33.90 and a low of Rs 31.05 so far during the day. The stock had hit a 52-week high of Rs 82.75 on 21 April 2011. The stock had hit 52-week low of Rs 22.80 on 22 December 2011.

The stock had outperformed the market over the past one month till 22 February 2012, rising 8.89% compared with the Sensex's 8.4% gain. The scrip had, however, underperformed the market in past one quarter, falling 2.7% as against Sensex's 12.95% gain.

The small-cap IT company has an equity capital of Rs 69.31 crore. Face value per share is Rs 10.

Subex said that the latest contract for the Revenue Operations Centre (ROC) Fraud Management solution is a pan-Africa deal across 16 networks. Subex's ROC Fraud Management solution was chosen over competition owing to its proven success in the Middle East and African regions, the company said. The company's technical superiority and highly scalable solution platform made it a natural choice for the multi-country deployment in this high growth region, Subex said in a statement.

ROC Fraud Management solution from Subex is built to help CSPs move towards proactive fraud prevention, reducing fraud run time, augmenting internal controls and continuous fraud management process improvement, the company said. It boasts several industry-leading features, enabling real time reaction through its in-line controls and transaction controls and prioritizes investigation of potential fraud cases through its advanced artificial intelligence (AI) techniques, Subex said in a statement.

ROC Fraud Management can detect fraud in any telecom environment, including wireline and wireless and across all service types, the company said. Its highly scalable platform can handle any data volumes and ever-increasing loads, offering a one-step solution for an operator's fraud management needs, Subex said in a statement.

Commenting on the latest contract, Mr Sudeesh Yezhuvath, Chief Operating Officer, Subex said, We are very pleased to have been selected by one of the largest operator in the African region to provide them with our award winning ROC Fraud Management solution. Having prior experience of successfully providing ROC solutions globally will enable us to provide the best service for this operator, which in turn will allow them to pass on excellent services to their customers.

On a consolidated basis, Subex reported net profit of Rs 16.37 crore in Q3 December 2011, compared with net loss of Rs 12.95 crore in Q2 September 2011. Net sales rose 2.54% to Rs 131.42 crore in Q3 December 2011 over Q2 September 2011.

Subex provides operations and business support systems to communications service providers. The company's customers include 16 of top 20 wireless operators worldwide and 26 of the world's 50 biggest telecommunications service providers. The company has more than 300 installations across 70 countries.

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