Ramco Systems registered a growth of 23% YOY with its global quarterly revenue at USD 12.20 Million in Q1 2005-06 as against USD 9.90 Million in Q1 of 2004-2005.

The growth was fuelled by consolidation of business in international operations with focus on solutions in the e-Governance, Human Resource Management (HRMS), Corporate Performance Management (CPM), Manufacturing, Aviation, Asset Management and Financial Services.

Keeping in mind the potential of the India & Middle East region, the quarter saw the bifurcation of the Sales and Business Development organizations into two entities. The partner led SMB initiative in India has matured into a robust ecosystem leading to multiple customer wins in the SMB segment.

For India, for the quarter ended June 30, 2005 the total income reported is Rs.31.26 Crores as against Rs.21.01 Crores in the corresponding period of the previous year, registering a 49% growth. The net loss after tax stood for Q1 2005-06 at Rs 6.03 Crores as against Rs 9.29 Crores for Q1 2004-05.

The Board has also finalized the issue of 30,70,751 equity shares of Rs 10 each for cash at a premium of Rs 200 per equity share on rights basis, to the existing shareholders of the company in the ratio of one equity share for every four equity shares held (1:4), aggregating to Rs 64.49 Crores. This is intended to take forward the initiatives for establishing a strong global presence for adaptive enterprise solutions powered by Ramco VirtualWorks®.

Commenting on the results, Mr. P.R.Venketrama Raja, Vice Chairman, Managing Director & CEO said, "While our strategy of penetrating Tier 1 accounts has yielded results, they are yet to translate into large contracts. Our model of acquiring customers through direct and indirect channels looks promising and we are confident of significant gains in the medium term.”