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Ramco records 3rd Consecutive Quarter of over 6% sequential growth in revenues

Ramco records 3rd Consecutive Quarter of over 6% sequential growth in revenues

Q1 global revenue grows at 8.4% over Q4 to USD 12.90 mn

Rajapalayam, India – July 27, 2014: Ramco Systems (BSE - 532370, NSE – RAMCOSYS, MSE – RSST);, an enterprise software company focusing on enterprise cloud platform, products and services, today announced the results for the first quarter of FY 2014-15.

“For the quarter ended June 30, 2014 (Q1:14-15), global income of Ramco Systems Limited, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia, Australia, South Africa, Sudan and Dubai stood at USD 13.06 m (Rs 77.80 cr). The QoQ revenue showed a healthy growth of 8.40% in dollar terms.

Successful Rights Issue, which corroborates the faith of investor community in Ramco’s future, allowed us to accelerate our process of transformation. We are increasing our investment into Product Enhancement, Talent acquisition, and Branding.

  • New Orders continue to increase their proportion in total order booking QoQ – Demonstrating Ramco’s ability to differentiate it’s offering vis-à-vis competition
  • Revenue from markets outside India stood at 72%
  • Ramco ERP on Cloud announced a major order from Norske Skog, Australasia, a subsidiary of Norske Skogindustrier ASA (one of the largest producers of publication paper in the world), for Cloud ERP integrated with Asset Management & Financials
  • To address the unique needs of People-centric organisations, Ramco launched Services Resource Planning (SRP) on Cloud

Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman and Managing Director, Ramco Systems Limited, said, “Q1 has started on a good note with our overall revenue showing a sequential growth QoQ. Interestingly, Cloud Computing which was earlier touted as the preferred option of small and medium enterprises is gaining good traction from large enterprises. This is a welcome sign as many large enterprises at the time of upgrade cycle are questioning the need for heavy CAPEX and are ready to relook at their IT backbone. We are witnessing this trend in multiple ERP and HCM opportunities globally where organisations are giving their traditional on premises offering a miss to move to new age application on Cloud. With large multinationals such as Norske Skog, Kerzner and Indian companies like, Mother Dairy among others on board, we are confident of continuing the growth, in the quarters ahead.”

Download Q1-2014-15 Results