Ramco Systems has transitioned itself into a global provider of assembled enterprise solutions. Over the last couple of quarters, the company has re-organized itself to take advantage of the emerging global opportunities using its unique, rapid application assembly & delivery platform - Ramco VirtualWorks

During the last year, the company had made substantial investments in completing a suite of enterprise-class components in Ramco VirtualWorks. The company has invested in recruiting local management teams in USA & Switzerland. These steps have positively impacted global revenues and prospect base.

The global revenues of Ramco Systems, including revenues from subsidiaries in USA, Switzerland, Singapore and Malaysia and branches in UK and Germany during the quarter ended June 30, 2003 were USD 7.51 million , registering a growth of 13 % compared to the corresponding period last year. The growth was spearheaded by USA & Switzerland which recorded growth rates of 26 % & 24 % respectively. The Malaysian operations recorded impressive growth during this period.

Among the business lines, the solutions business grew by 18 %, while the CRM practice registered a growth of 66%.

For India, for the quarter ended June 30, 2003 the total income reported is Rs. 16.67 crores as against Rs. 17.37 crores in the corresponding period of the previous year. The net loss after tax is Rs. 15.01 crores ( which includes additional non-cash expenses amounting to Rs 4.12 crores ), compared to a loss of Rs. 8.16 crores in the corresponding period of the previous year.

Commenting on the results, Mr. P.R.Venketrama Raja, Vice Chairman, Managing Director & CEO said, " The market response to our new offerings is very encouraging and we have already reached a milestone of 25 customers who are currently implementing solutions on our innovative technology platform. I expect this momentum to continue and grow. Global marketing initiatives are in progress and we will be putting more emphasis on this effort in the coming quarters."