Subex bags $1 million fraud-management project in Europe; Stock gains as much as 6%

Shares of Subex Ltd

. surged as much as 6% on Wednesday, December 10, after the company announced that it has secured a five-year contract from one of Europe’s "largest integrated energy and telecommunications providers," marking a significant new customer win for the Bengaluru-based telecom AI solutions firm. The stock gave up gains soon after.

In an exchange filing, Subex said the order, valued at around $1 million, involves deploying its fraud-management software suite along with providing business consulting, followed by training and managed services in the first 3 years of the project and support for 5 years for the software.

The project will be delivered and supported through Subex’s EU offices, the company said.

The customer, whose name was not disclosed, operates across power grids, renewable energy, EV charging and telecom services including fibre broadband and mobile networks.

Welcoming "one of Europe’s most forward-looking integrated energy and telecom players" to the Subex customer base, Nisha Dutt, MD & CEO of Subex. said, “As they scale their greenfield telecom operations, they are laying down a robust, future-ready fraud defense from day zero."

This new logo strengthens our presence in Europe and reflects the trust global operators place in Subex,” she added.

Subex said the client selected it for the depth of its fraud-management capabilities, strong security and data-protection practices, and a “future-ready architecture” suited for greenfield telecom growth. The deal further strengthens the company’s footprint in Europe.

The company reported a net profit of ₹0.62 crore in the quarter ended September 2024 compared with a net loss of ₹11.05 crore during the previous quarter ended September 2023. Sales declined 3.45% to ₹74.16 crore in the second quarter, as against ₹76.81 crore during the prior quarter.

Following the announcement, shares of Subex Ltd. surged over 6.5% to its intraday high of ₹12.63. The stock has given up those gains, currently trading 1.7% higher at ₹12. The stock has nearly halved in value so far in 2025, with declines of 48%.