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Ramco posts global income of USD 13.24 m

Secures 73 new orders in Q3

Chennai, February 3, 2012: 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 third quarter of FY 2011-12.

For the quarter ended December 31, 2011 (Q3:11-12), global income of Ramco Systems Limited, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia, South Africa and Dubai stood at USD 13.24 m (Rs.65.33 cr). The net profit for the quarter stood at USD 0.33 m (Rs 1.43 cr).

Highlights – Q3 2011-12:

  • Adds 73 new wins in Q3, including 45 from Ramco OnDemand
  • India (including Middle East & Africa) was the primary revenue driver with 50% followed by Americas with 29%.
  • Logistics business showed good traction in India;
  • A leading MNC bank in India chose Ramco’s Banking Analytics offering for its ADF requirement
  • Aviation business continued to grow steadily with new wins such as Columbia Helicopters, T’way Airlines, and Ornge

Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman, Managing Director & CEO, Ramco Systems Limited, said, - "Historically, Q3 is the toughest quarter in a product business but this year we have secured 73 new orders in Q3. Our cloud ERP offering has continued to garner the market momentum and is now clocking 45 orders a quarter. Going forward, we are confident that this number will continue to grow steadily. Aviation, which is one of our strongest product lines, continued to expand its reach globally with significant wins. In addition to this, our strategy to focus on high-growth, high-potential verticals such as Logistics, Banking and Cement are paying results. Overall, we have the right products to address the latent market demand and are confident of positive growth in the years ahead."

Download Q3 - 2011-12 results