Ramco Systems records 6% YoY growth in topline on constant currency
Partners with Ernst & Young and other Big 4 consulting firms for Platform; Positioned as ACHIEVER in Multi-Country Payroll Platform by Everest Group
Chennai - August 6, 2016
Chennai, India – August 3, 2016: 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 2016-17.
For the quarter ended June 30, 2016 (Q1: 2016-17), global consolidated income of Ramco Systems Limited stood at USD 16.62m (Rs 110.5 cr). The revenue showed a growth of 6% YoY on constant currency. The net profit after tax for the quarter, amounted to USD 0.14m (Rs. 90 lakhs). This quarter, the bottom line got moderated due to the adoption of Indian Accounting Standards (Ind AS).
(Constant Currency is measured by applying the exchange rates of the corresponding periods of the last financial year)
- Revenue from markets outside India stood at 69%
- Ability to address Global Payroll on a unified platform leads to Ramco HCM being positioned as an ‘Achiever’ in Everest Group’s Multi-Country Payroll Platform Assessment beating global giants. Ramco ranks high both on functionality and execution effectiveness
- Ernst & Young (EY Global Services Ltd), a multinational professional services Consulting firm partners with Ramco for supply of Managed Payroll Services on Ramco’s Payroll Technology Platform
Commenting on the results, P.R. Venketrama Raja, Vice Chairman and Managing Director, Ramco Systems, said, “Our thrust on investing in Innovation and building our platform capabilities continue to get recognized and rewarded. Leading research firms like Everest and NelsonHall have placed us on par or better than some of the leading global names in multi-country payroll capabilities. After Infrastructure and Software, the next wave in technology will revolve around Platform as a Service and I am happy to note we are geared to address the market opportunity that lies ahead of us.”