Highest profit for Ramco in a decade

Ramco Systems reveals highest revenue growth in a decade in the third quarter of FY 2014-15. The growth has been recorded on the basis of global acceptance of software in markets outside India, partner strategy contributed 35% and multi-agent based Planning and Optimization Engine gained market interest.

P.R. Venketrama Raja, vice chairman and managing director, Ramco Systems, 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.”

For the quarter ended 31 December 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% q-o-q and 44% y-o-y in dollar terms. The net profit after tax for the quarter, but before accounting for USD 0.33 mn towards amortization of proportionate intrinsic value of the employee stock options granted, amounted to USD 1.66 mn. 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.

Commenting on the next big thrust, 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.”