Ramco Systems posts Q1 revenue of USD 19.23m
- Continues to bet big on Aviation, Aerospace & Defense, and Global Payroll business
Ramco’s Self Explaining Payslip, a move towards Conversational UI
Chennai, India – July 28, 2021: Ramco Systems (BSE -532370, NSE - RAMCOSYS); a global enterprise software company focusing on Next Generation Cloud Enterprise Applications, today announced the results for the first quarter of 2021-22.
For the quarter ended June 30, 2021 (Q1: 2021-22), global consolidated income of Ramco Systems Limited stood at USD 19.56m (Rs 142.9cr). The net loss after tax for the quarter amounted to USD 1.22m (Rs. 8.9cr).
Q1 Financial Highlights:
- Quarterly order bookings stood at USD 19.74m
- 3 'Million-Dollar-Plus' deals signed
Q1 Business Highlights:
- Ramco Aviation continues its breakthrough in the eVTOL/ UAV space with the addition of two new deals, in the quarter
- Launches Self Explaining Payslip, a smart, AI-based service that lets employees seek explanations of their compensation and payslip component, a move towards Conversational UI approach
- Ramco ERP further cements its footprint in the U.S. with a leading facility management and commercial cleaning service provider
- Continuous strict lockdown in Asia on account of Covid had significant impact on Order Booking for Q1
- Order Book pipeline continues to stay healthy
Commenting on the business focus, P.R. Venketrama Raja, Chairman, Ramco Systems, said, “Organizations today have become more focused towards transforming their business through innovative, digital strategy to make them more agile. To align with this, we are investing significantly in building next generation products, with modern user experience, embedded with AI / ML.”
“Our Aviation, Aerospace & Defense, and Global Payroll business continue to make a mark in the global markets with some early wins and several innovative features. We look forward to continuously improve and capitalize on the opportunities ahead” he added.