Ramco Systems has achieved cash break-even for the first half of fiscal ‘06-‘07 (Apr-Sep) and posted a modest global profit before depreciation & tax of USD 0.43m compared to a loss of 1.78m in the corresponding period last year.

The global software solutions revenues grew by 19% and posted revenues of USD 19.34m. Primary contributors to the software revenue growth were the global aviation solutions and the Indian market. During the first half, Indian software solutions business posted an impressive growth of 117% compared to the corresponding period last year. Tighter cost management has resulted in the company trimming its net loss for H1 by 45% to USD 2.25m compared to USD 4.06m incurred during H1 2005-06.

For Q2 ’06-07, the company has posted global revenues of USD 15.55 m with a net loss of USD 1.01m.

The total global revenues of Ramco Systems Ltd, including revenues from subsidiaries in USA, Switzerland, Singapore, Malaysia, South Africa and India, stood at USD 31.02 m as against USD 28.73 m in the first half year of the previous fiscal.

Global H1 software revenue contribution was led by USA & India with a share of 46% and 21% respectively. Among the business lines, the software solutions business contributed over 64%, while the IT Services practice accounted for 18% of the global H1 revenues.

For India, the total second quarter income reported was Rs.25.38 crores with a net loss of Rs. 3.59 crores.

Commenting on the results, Mr. P.R.Venketrama Raja, Vice Chairman, Managing Director & CEO said, "Ramco’s dual strategy of increasing revenues and tighter cost management has resulted in the company turning cash positive during the first half of the year. Our investments in key partnerships, world-class talent and global best practices is expected to lead us to a profitable growth in the coming months”