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Ramco revenues grow in Q3

Anuradha Shukla | Feb. 5, 2015
Records highest profit in last 10 years.

Global consolidated income of Ramco Systems stood at US$ 16.02million for the quarter that ended December 31, 2014.

The net profit after taxes for the quarter was US$ 1.33million, which is highest in the last 10 years on comparable basis.

The revenue showed a growth of 8% quarter on quarter (QoQ) and 44% year on year (YoY) in dollar terms, according to the results for the third quarter of financial year 2014-15.

The net profit after tax for Q3 but before accounting for US$ 0.33 million towards amortization of proportionate intrinsic value of the employee stock options granted was US$ 1.66 million.

"In the last two years, the company has taken multiple steps to arrest losses, sustain growth and move to profitability," said P.R. Venketrama Raja, vice chairman and managing director, Ramco Systems. "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."

Global acceptance

Ramco's software is continuing to become popular across the globe and revenue from markets outside India reached 73% this quarter.

The company has experienced interest for its multi-agent based Planning and Optimization Engine. The solution addresses problems associated with planning, inventory forecasting, maintenance planning among others.

Its partner strategy has also begun to show result as 35% of projects in human capital management (HCM) were implemented by partners this quarter.

"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," said Virender Aggarwal, CEO, Ramco System. "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."

 

 

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