Ramco Systems Q3 Order Booking grows 103% Y-o-Y

Chennai - February 1, 2023

• Records USD 27.6m in bookings, the highest in the last eight quarters
• Clocks revenue of USD 15.66m in Q3
• Successfully raises Rs. 130cr through preferential issue

Chennai, India—February 01, 2023: Ramco Systems (BSE-532370, NSE-RAMCOSYS), a global enterprise software company focusing on next-generation Cloud Enterprise Applications, today announced the results for the third quarter of the financial year 2022-23.

For the quarter ended December 31, 2022 (Q3: 2022-23), global consolidated income of Ramco Systems Limited stood at USD 15.82m (Rs. 128.7cr). The net loss after tax for the quarter stood at USD 6.15m (Rs. 50.3cr).

Q3 Highlights

• Order booking grew 103% y-o-y with large deals signed across all business units
• Signed 7 “million-Dollar plus” deals
• Uptick in business bouncing back to pre-pandemic levels
• Growth aligned to our strategic areas of focus across business segments and geographies
• Witnessed encouraging momentum in market opportunities across all geographies
• Certified as a “Workday Global Payroll Certified Integrator” for seven additional countries, taking the tally to 14 countries across Asia
• Continued our thrust on offering payroll coverage across 100+ countries (compliance across 60+ countries on Ramco’s own platform), brought home the 2022 HR Vendors of the Year Awards for Best Payroll Software and Best Payroll Outsourcing in Singapore and Malaysia
• Investments in building an employee-centric organization and focus on enhancing employee experience resulted in lower attrition rate; Ramco recognized as the Most Preferred Workplace in IT&ITES 2022-23 in India by Team Marksmen Network in association with the Times Now Group.

Commenting on the results, P.R. Venketrama Raja, Chairman, Ramco Systems, said, “Q3 was a quarter of reassurance for Ramco. We witnessed significant momentum across geographies on the back of customer wins across Aviation, Banking, Healthcare, and Technology, reposing faith in our ability to deliver differentiated value.”

“Our emphasis on next-gen technology, together with the right investments in products, people, partnerships, and platforms, has started yielding results. We believe that our initiatives will help position ourselves well in the market and enable us to be ready to embrace the next phase of growth,” added Raja.

Download the pdf version of the Financial Results