Chennai, India (PRWEB UK) 5 February 2015
Ramco Systems (BSE - 532370, NSE – RAMCOSYS, MSE – RSST); a global enterprise software company focusing on enterprise cloud platform, products and services, today announced the results for the third quarter of FY 2014-15.
For the quarter ended December 31, 2014 (Q3:14-15), global consolidated income of Ramco Systems Limited stood at USD 16.02m (Rs 98.2 cr). The revenue showed a healthy growth of 8% QoQ and 44% YoY in dollar terms. The net profit after tax for the quarter, but before accounting for USD 0.33 mln towards amortization of proportionate intrinsic value of the employee stock options granted, amounted to USD 1.66 mln. The net profit after taxes for the quarter, which does not contain any exceptional / extraordinary items, stood at USD 1.33m, highest in the last 10 years on comparable basis.
- Order booking and Revenue for YTD (Q1 – Q3) is comparable to that of complete FY 2013-14
- Software continues to find global acceptance with revenue from markets outside India clocking in 73%
- Ramco’s multi-agent based Planning and Optimization Engine gains market interest. Sees fitment in addressing complex business problems such as planning and scheduling last-mile access, shift planning and crew rostering, inventory forecasting, maintenance planning among others.
- Partner strategy begins to bear result – 35% of projects in HCM implemented by partners
Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman and Managing Director, Ramco Systems Limited, said, “In the last two years, the company has taken multiple steps to arrest losses, sustain growth and move to profitability. From entering new markets, to focusing on making the product highly usable, efforts on all directions were taken to build a nimble and progressive cloud company. I am glad the efforts have started to pay off with financial results and customer feedback reflecting the positive sentiment.”
Commenting on the next big thrust, Mr. Virender Aggarwal, CEO, Ramco System, said “…we want to build a culturally unique organization which thrives on innovation and is breaking barriers to disrupt the status quo. In a knowledge economy, only a high-growth, high-potential organization which is open to embracing Gen-Y talent can strive to stay ahead of competition. Our focus is on attracting the best talent and giving them a platform to think freely and deliver solutions that are path breaking. From wearables to agent-based technology, the opportunity to get hands on experience on latest technologies is driving high performers to join Ramco.”
About Ramco Systems:
Ramco Systems is part of the USD 1 Billion diversified conglomerate, the Ramco Group of companies. Ramco Systems is a rapidly growing cloud enterprise software company focused on providing multi-tenanted enterprise software to corporates in the area of HCM, ERP and M&E MRO with Mobile first philosophy and In-memory based Planning and Optimization engine. At Ramco, we understand that functionality alone cannot help a product succeed in today’s crowded marketplace. With utmost importance to usability, Ramco has charted out a product philosophy of MUSIC—an acronym for Mobility, User Interface, Social, In-Memory and Context-aware applications. Globally, Ramco has over 150,000 users from 1000+ customer organizations. Headquartered in Chennai (India), the company has 20 offices spread across India, USA, Canada, Europe, Australia, Middle East, South Africa and APAC.
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Certain statements in this release concerning our future growth prospects are forward looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT business including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Ramco Systems may, from time to time, make additional written and oral forward-looking statements, including statements contained in our reports to shareholders. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.--