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Ramco Systems Q1 revenue grows 6% YoY

Ramco Systems Q1 revenue grows 6% YoY

Thrust on Logistics, Defense, Operational HR & Global Payroll-led opportunities continues; Witnesses marquee clients going live and reaping benefits; Increasing interest seen from both existing and new clients to adopt chatbots, AI & ML

Rajapalayam, India – August 07, 2019: 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 2019-20.

For the quarter ended June 30, 2019 (Q1: 2019-20), global consolidated income of Ramco Systems Limited stood at USD 20.47m (Rs 141.9 cr). The net profit after tax for the quarter, amounted to USD 0.41m (Rs.2.9 cr).

Q1 Financial highlights:

  • Quarterly order bookings stood at USD 21.53m
  • 5 ‘Million-Dollar-Plus’ deals signed

Q1 Business highlights:

  • Revenue from markets outside India stood at 68%
  • Ramco’s implementation at Standard Chartered Bank won the Global Payroll Transformation Project of the Year Award at GPA Awards
  • Europe’s leading rail and multimodal freight forwarding company, Forwardis signed a Digital Transformation program to implement Logistics ERP
  • Ramco Aviation went live for a leading In-flight entertainment solutions provider with operations spread across 70+ line stations and repair stations in 28 countries
  • Defense-led focus continues to yield result with the winning of a maintenance software deal from leading adversary training services provider to air forces across Canada, Germany and Australia.

Commenting on the business focus, P.R. Venketrama Raja, Chairman, Ramco Systems, said, “Enterprise Applications are like the foundation of a building. Having a strong foundation is key to building layers of innovation and transformation on top. To achieve the desired results, one must focus on all three aspects – standardization, optimization and innovation. At Ramco, we are building a platform-centric approach to digital transformation to enable clients reap the complete benefit of their investments. I am glad, this approach is helping us stay ahead of competition who address the market with bolt-on or point solutions.”

“Having won client trust in U.S., Asia, Australia and Middle East, Logistics ERP expanded into Europe with Forwardis win. Overall, we continue to see good traction for our suite of enterprise applications, multi-country payroll and Aviation Suite,” added Raja.