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Ramco posts global income of USD 8.92m

Rajapalayam, August 2, 2012: Ramco Systems (BSE - 532370, NSE – RAMCOSYS, MSE – RSST); an enterprise software company focused on enterprise cloud platform, products and services, today announced the results for the first quarter of FY 2012-13.

For the quarter ended June 30, 2012 (Q1:12-13), global income of Ramco Systems Limited, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia, South Africa and Dubai stood at USD 8.92m (Rs 47.07cr). The net loss for the quarter stood at USD 2.84m (Rs 14.98cr) as against last year corresponding quarter profit of USD 0.12m (Rs 0.54cr).

Highlights – Q1 2012-13:

  • India (including Middle East & Africa) contributed 68% followed by Americas with 19%
  • Banking and Financial Services sector showed good momentum with key wins for Ramco Analytics and ADF offering
  • Sees increase in traction from medium and large customers to adopt Ramco ERP on Cloud.

Awards:

  • Ramco's BPO was adjudged 'BPO Organization of the Year' at the 3rd Asia's Best Employer Brand Awards 2012 held at Singapore.

Commenting on the results, Mr. Virender Aggarwal, Chief Executive Officer, Ramco Systems Limited, said, "We see tremendous global interest in the cloud. From a prominent player in the domestic market, we are now all poised to take on the global market with our Cloud offerings. We are transforming our company to be a major Global player in the Cloud ERP market. As we set sights on the international market, we will be focusing on widening our partner network to scale and reach the global audience effectively. We have revitalized our operations in Europe and are targeting new markets in APAC. The next few months will be critical as we step up our efforts to go global and focus on strengthening our position on the Cloud."

 

Download Q1 - 2012-13 results