Ramco Systems posts Q1 revenue of USD 15.70m

Chennai - July 26, 2022

Chennai, India – July 26, 2022: Ramco Systems (BSE - 532370, NSE – RAMCOSYS); a global enterprise software company focusing on Next Generation Cloud Enterprise Applications, today announced the results for the first quarter of the financial year 2022-23.

For the quarter ended June 30, 2022 (Q1: 2022-23), global consolidated income of Ramco Systems Limited stood at USD 15.84m (Rs 120.9cr). The net loss after tax for the quarter amounted to USD 6.64m (Rs. 50.7cr).

Q1 Highlights:

• Quarterly order booking stands at USD 21.77m – highest in the last five quarters
• Ramco Global Payroll & HR business unit witnesses 85% growth in order bookings QoQ
• 5 ‘Million-Dollar-Plus’ deals signed
• Wins during the quarter include 5 orders from Fortune 200 companies
• Newly formed U.S. based defense subsidiary bags first order from a leading MRO defense prime contractor
• Voice-enabled transactions on Ramco CHIA for enhanced employee experience
• Increased automation leveraging RPA to fast-pace customer deliveries, leading to quicker go-lives
• Continue to strengthen footprint in the US; Successful implementation of Ramco ERP at a US-based leading facility management and commercial cleaning service provider, offering 360-degree view of its business operations

Commenting on the results, P.R. Venketrama Raja, Chairman, Ramco Systems, said, “Our investments in the automation of implementation and deployment processes have started showing results in reliable and faster project deployments and are thereby improving our ability to provide enhanced customer experience.”

“The current quarter witnessed improved order booking as a result of most markets opening up their borders, thereby enabling closer, in-person engagements with customers and prospects. This positive momentum is seen across business lines and geographies, in line with the investments we have made in last few quarters” added Raja.

Download the pdf version of the Financial Results