Ramco Q1 profit grows 61% QoQ; New Order book shows healthy growth
Ramco Australia soars ahead with 3 wins across ERP and Aviation
Rajapalayam, India – August 5, 2015: Ramco Systems (BSE - 532370, NSE – RAMCOSYS); a global enterprise software company focusing on enterprise cloud platform, products and services, today announced the results for the first quarter of 2015-16.
For the quarter ended June 30, 2015 (Q1:15-16), global consolidated income of Ramco Systems Limited stood at USD 16.60m (Rs 104.3 cr). The net profit after tax for the quarter, amounted to USD 1.14m (Rs 7.1 cr) as compared to USD 0.71m (Rs 4.4cr) the previous quarter showing a healthy growth of 61% QoQ.
- Revenue from markets outside India further strengthened to reach 77%, showing strong international footprint; Ramco Australia marched ahead with multi-million dollar deals
- 71% of overall order book comprised of new orders with new booking growing 57% QoQ, a sign of market opportunity and Ramco’s ability to differentiate and attract new business
- Replacement market continued to trigger business opportunities for ERP as organizations in mature markets showed increased adoption of new gen technology by replacing legacy ERP
- Ramco Global Payroll endorsed as a LEADER in NelsonHall’s NEAT Report for Payroll Outsourcing 2015
- Ramco Aviation added 3 marquee names spanning across US to ANZ
- 100+ fresher’s from ICAI, NIT, BITS, IIM, ISB and other Tier I schools join the global workforce
- Efforts to build a new culture pays off; Gets featured among the Top 500 companies to work for, globally as published in Forbes
Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman and Managing Director, Ramco Systems Limited, said, “The Enterprise applications software market is witnessing rapid disruptions as legacy vendors face stiff competition from nimble and agile cloud vendors. With the user gaining greater prominence, there is a natural shift towards usability of the application. Our Innovation lab has been churning out some interesting use cases of applications that have Zero UI, auto filling of fields based on usage which enables user to move from clicks to thumb and movement towards building Cognitive ERP. We are excited to be working on future technologies that will define the way businesses are run.”