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Ramco posts global income of USD 11.61 m

Adds 35 new customers in Q2

Chennai, November 7, 2011: Ramco Systems Limited (BSE - 532370, NSE – RAMCOSYS, MSE – RSST); a software company focused on consulting, products and managed services, today announced, the results for the second quarter of FY 2011-12.

For the first half of the year (H1: Apr-Sep ‘11), total global revenues of Ramco Systems Limited, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia, South Africa and Dubai stood at USD 23.95 m (Rs 106.70 cr). The net loss for the first half of the year stood at USD 0.68 m (Rs 3.03 cr).

For the quarter ended September 30, 2011 (Q2:11-12), global income of Ramco Systems Limited, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia, South Africa and Dubai stood at USD 11.61 m (Rs 51.98 cr). The net loss for the quarter stood at USD 0.80 m (Rs 3.57 cr). The net loss was attributed to sluggish market conditions and new orders being deferred.

Highlights – Q2 2011-12:

  • Adds 35 new customers in Q2
  • India (including Middle East & Africa) was the primary revenue driver with 44% followed by Americas with 33%.
  • Aviation business continued to grow steadily with significant wins, globally.

New offering:

Ramco Banking Analytics announced the launch of its ADF solution, which enables banks to automatically adhere to the RBI guideline for submission of returns without any manual Intervention.

Awards:

The PCQuest Users' Choice Awards 2011 ranked Ramco ERP as enjoying the highest brand loyalty amongst its SME customers.

Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman, Managing Director & CEO, Ramco Systems Limited, said, - “Globally, customers are looking for solutions that can help transform business operations which bring greater economies of scale. Our years of investments in Cloud technologies has ensured that we have the right set of solutions delivered on the most appropriate cloud model—public or private, to tap into this growing demand. Our products have matured over the years and customer feedback has been encouraging. We believe this will open up a multitude of opportunities for us in the coming quarters.”