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Ramco posts global income of USD 47.41 m for FY 2010-11

Quarterly revenue stood at USD 12.16 m, grows 34.4% YoY


Chennai, May 30, 2011: Ramco Systems Limited (BSE - 532370, NSE – RAMCOSYS, MSE – RSST); a leading software company focused on consulting, products and managed services, today announced, the results for the fourth quarter of FY 2010-11.

For the quarter ended March 31, 2011 (Q4:10-11), global income of Ramco Systems Limited, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia and South Africa stood at USD 13.12 m (Rs 58.94 cr). The profit for the quarter stood at USD 0.22 m (Rs 0.98 cr) as against last year corresponding quarter profit of USD 0.06 m (Rs 0.26 cr).

For the year ended March 31, 2011 (FY: 2010-11), global income of Ramco Systems Limited grew at 27.82% to USD 47.41 m (Rs 214.21 cr). The profit for the year stood at USD 0.51 m (Rs 2.31 cr) as against last year corresponding year profit of USD 0.40 m (Rs 1.88 cr).

Highlights – FY 2010-11:

  • FY revenue grows 27.21% YoY
  • Adds 176 new customers during the year
  • Establishes itself as a prominent player in the public cloud ERP space with Ramco OnDemand ERP
  • Aviation business bounces back with significant wins during the year
  • Sees increasing demand for Analytics suite comprising of Banking and Enterprise Analytics delivered both as public and private cloud

Financial & Business highlights – Q4 2010-11:

  • Q4 revenue grows 34.4% YoY
  • India operations (including Middle East and Africa) contributed 60%, followed by US with 22%, depicting stronger domestic scenario.
  • Newer markets like Middle East and Africa continued to show significant growth.

Awards:

  • Ramco Systems won the prestigious award for 'Operational Excellence and Quality' at the BPO Excellence Awards 2010-2011, held at the Taj Lands End, Mumbai. Ramco won the award for exhibiting successful implementation of its acclaimed IP3 Framework, in bringing operational excellence and quality to customers.

Product launch:

  • Ramco launched its Software as a Service (SaaS) Enterprise Resource Planning (ERP) offering for the Aviation, Aerospace and Defense industry targeting the US market.

Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman, Managing Director & CEO, Ramco Systems Limited, said, - "The year 2010-11 has been a very important one for us as we embarked on a drive to enhance our brand image through marketing initiatives on print, outdoor and online media. This coupled with a strong cloud offering has helped us position Ramco as a leading player in the cloud ERP space. In addition to gaining significant traction from the market, we have also witnessed the brand get better market recognition. As a company, we are now focused on consolidating our efforts into high growth, high potential products and markets. In FY 2011-12, the emphasis is on enhancing the competitiveness of our overall operations through Verticalization. This will ensure that each unit is a self-contained entity having the domain expertise to handle the complete solution end-to-end. As we step into the next phase of growth, powered with strong offerings in both private and public Cloud, Aviation and Analytics, we look forward to good growth in the business in the year ahead."