Ramco Systems customers have endorsed the Adaptive Enterprise Solutions provided using Ramco VirtualWorks®. Ramco has received repeat orders from customers in Banking, Manufacturing, Aviation, eGovernance & Public Services.

Global quarterly revenues for the quarter ended September 30, 2004 stood at USD 13.38 Million, registering a growth of 59% over Q2 of the previous year and a growth of 35% over Q1 of 2004-05. Half-yearly revenues accounted for USD 23.28 Million as against USD 15.87 Million the previous year.

The global revenues of Ramco Systems, headquartered in India, include revenues from subsidiaries in USA, Switzerland, Singapore, Malaysia and South Africa and branches in UK, Germany & Dubai.

Revenues from solutions developed on VirtualWorks grew manifold from USD 1.06 Million in Q2 of 2003-04 to USD 5.23 Million in the current Quarter. Overall solutions revenue also more than doubled from USD 3.7 Million in Q2 of 2003-04 to USD 8.09 Million this quarter.

For India, for the quarter ended September 30, 2004 the total income reported is Rs.36.40 crores as against Rs.19.43 crores in the corresponding period of the previous year. The bottom line was positive with a net profit after tax of Rs 2.32 Crores.

Commenting on the results, Mr. P.R.Venketrama Raja, Vice Chairman, Managing Director & CEO said, "Continued customer acceptance of VirtualWorks based solutions has helped us achieve our objectives and is enabling us to accelerate the positive momentum created over the last few quarters. Our efforts are now focused at streamlining our market initiatives and internal business processes to handle the next phase of growth in solution engagements.”