Rajapalayam, India (PRWEB UK) 6 August 2015
Ramco Systems (BSE - 532370, NSE – RAMCOSYS); a global enterprise software company focusing on enterprise cloud platform, products and services, today announced the results for the first quarter of 2015-16.
For the quarter ended June 30, 2015 (Q1:15-16), global consolidated income of Ramco Systems Limited stood at USD 16.60m (Rs 104.3 cr). The net profit after tax for the quarter, amounted to USD 1.14m (Rs 7.1 cr) as compared to USD 0.71m (Rs 4.4cr) the previous quarter showing a healthy growth of 61% QoQ.
- Revenue from markets outside India further strengthened to reach 77%, showing strong international footprint; Ramco Australia marched ahead with multi-million dollar deals
- 71% of overall order book comprised of new orders with new booking growing 57% QoQ, a sign of market opportunity and Ramco’s ability to differentiate and attract new business
- Replacement market continued to trigger business opportunities for ERP as organizations in mature markets showed increased adoption of new gen technology by replacing legacy ERP
- Ramco Global Payroll endorsed as a LEADER in NelsonHall’s NEAT Report for Payroll Outsourcing 2015
- Ramco Aviation added 3 marquee names spanning across US to ANZ
- 100+ fresher’s from ICAI, NIT, BITS, IIM, ISB and other Tier I schools join the global workforce
- Efforts to build a new culture pays off; Gets featured among the Top 500 companies to work for, globally as published in Forbes
Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman and Managing Director, Ramco Systems Limited, said, “The Enterprise applications software market is witnessing rapid disruptions as legacy vendors face stiff competition from nimble and agile cloud vendors. With the user gaining greater prominence, there is a natural shift towards usability of the application. Our Innovation lab has been churning out some interesting use cases of applications that have Zero UI, auto filling of fields based on usage which enables user to move from clicks to thumb and movement towards building Cognitive ERP. We are excited to be working on future technologies that will define the way businesses are run.”
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 and Payroll, ERP and M&E MRO for Aviation, 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. 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.--