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Subex Azure to raise funds through GDRs

BANGALORE: The Bangalore-based Subex Azure has received board approval to raise funds through a sponsored global depository receipt (GDR) issue of 90 lakh equity shares. The company has notched a net profit of Rs. 17.10 crore on consolidated revenues of Rs. 103.10 crore for the quarter ended September 30, 2006. Product revenues at Rs. 74.10 crore accounted for 72 per cent of the total revenue during the second quarter.

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