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Ramco Q1 revenue grows 27% YoY

Ramco Q1 revenue grows 27% YoY

Rajapalayam, India – July 29, 2013: Ramco Systems (BSE - 532370, NSE – RAMCOSYS, MSE – RSST); an enterprise software company focusing on enterprise cloud platform, products and services, announced the results for the first quarter of FY 2013-14, today.

For the quarter ended June 30, 2013 (Q1:13-14), global revenues of Ramco Systems Limited, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia, Australia, South Africa and Dubai stood at USD 10.82 m (Rs 59.31 cr), registering a 27% year-on-year growth.

  • India contributed 37%, closely followed by Americas with 29%
  • Contribution from markets outside India continue to show steady growth
  • Signed strategic partnership with Eurocopter to offer cloud-based maintenance information systems for helicopters
  • Announced the global launch of Ramco HCM on Cloud, a comprehensive HR & Talent Management Solution with multi-country payroll, Gen-Y Interface, role-based WorkSpaces and In-memory engine
  • Witnessed positive demand for HCM across markets; Signed customers across India, APAC and the Middle East
  • Brought on board six senior executives to strengthen its Delivery, Implementation and Field Sales force across geographies

Commenting on the results, Mr. P R Venketrama Raja, Vice Chairman & Managing Director, Ramco Systems Limited, said “The year 2013-14 has started on a good note with the signing of a strategic pact with Eurocopter, a world leader in helicopter manufacturing. This has further strengthened our position in the aviation market globally. While aviation and our core ERP offerings continue to grow, the market interest for the newly launched HCM solutions on the cloud is encouraging. We hope to capitalize on this to further strengthen our position on the cloud.”