Driven by customer acceptance and recognition of Ramco OnDemand ERP (RODE) offerings, Ramco ends the quarter optimistically. The company has added a total of 29 new customers to its marquee list of customers, of which 14 are from the SaaS segment. The slew of measures undertaken during the quarter, aimed at increasing the focus on customer acquisitions, is helping the company achieve breakeven quarter-on-quarter, and is expected to fuel growth in the coming quarters as well.
For Q3 ’09 -’10, the global income of Ramco Systems including revenues from subsidiaries in USA, Switzerland, Singapore, Malaysia and South Africa stood at USD 9.05 m. The profit for the period stood at USD 0.08 m as against last year’s corresponding period loss of USD 2.09 m.
In terms of revenue contribution for the quarter India accounted for 52 % followed by US with 26% of revenues as against last year corresponding period contributions of 35% and 34% respectively depicting stronger domestic scenario. India was the primary revenue driver with revenues of USD 4.45 m followed by US with USD 2.23 m.
The strategic initiatives conceived and nurtured during fiscal (07-08) enabled a great take-off for Ramco OnDemand ERP – India’s first comprehensive ERP delivered as a service (Software as a Service). Last quarter RODE has made significant in-roads in SME segment and has witnessed excellent traction with 14 new order wins. Key order wins are Shakti Cords, GD Textiles, Ganapati Industries, Kauvery Textiles, Mark Engineers, Sievert India, Rajapur Shipyard, LPS Industrial Supplies, Vinayaka Industries, Max Cards, S.P.Mani & Mohan Dairy, Metco Roofings, Raunaq Automotive Components, Electrica Engineers. Company has also forayed into metros, Tier 1 & 2 cities in India to establish strong partner ecosystem for sales and implementation. Currently Ramco OnDemand ERP has 30 active partners; efforts are underway to increase the numbers to 50 by the end of this fiscal. On Enterprise side the key order wins are - India Telecom Infra, Indev Logistics, Alcon Laboratories, IBPIL - Arkay Energy (Rameswaram), Birla Corp Chittorgarh, Shree Cements, India Cements, Toshniwal Industries etc. For India, the total quarterly income reported are Rs 29.07 crores as against last year of Rs 26.08 crores depicting noteworthy growth of 11.5%. Net profit for the region stands at Rs 2.22 crores as against net losses of Rs 7.40 crores of last year.
On the partnership front, the company has announced HP Neoview as the preferred partner to deliver Core Banking Analytics Solutions for customers in India. Ramco will work with HP to jointly market and deliver the Core Banking Analytics Solution on HP Neoview enterprise data warehousing platform to help customers accelerate growth through improved business insights.
During the last three months, the company has witnessed excellent traction in the Middle East market, with notable growth of 93%, culminating in revenues of USD 1.09 m as against last year same period revenues of USD 0.57 m. This remarkable growth has been possible due to strong order book in the region. The quarter also signified the initiation of new partnering initiatives in the region. Implementations in the region have also been progressing well, with customers continuing to express general satisfaction with the diligence of Ramco’s Professional Services teams.
The US and Europe operations have been steady, with revenues of USD 2.23 m and USD 0.72 m respectively.
