Tuesday, 7 February 2017

Ramco Systems Q3 Net Profit stood at USD 0.45mn

Ramco Systems, a global enterprise software company focusing on enterprise cloud platform, products and services, announced the results for the third quarter of 2016-17.

For the quarter ended December 31, 2016 (Q3:16-17), global consolidated revenue of Ramco Systems Limited stood at USD 16.85m (Rs.112.8 cr). The net profit after tax for the quarter, amounted to USD 0.45m (Rs 3.02cr).

Highlights:
·         Platform capability to address HR & Payroll for 40+ countries on a single platform helps build global momentum for the HCM offering
·         Ramco expanded its footprint into China with the signing of its 2nd Aviation client; adds yet another Fortune 100 brand in U.S. to its growing global Aviation clientele
·         Ramco Logistics continued its winning spree in Australia with the signing of its 5th customer
·         Highest ever booking clocked in this quarter, largely tilted towards recurring revenue thus promising a stable futuristic revenue
·         Revenue from markets outside India stood at 73%
·         Asia and Australia continued to lead the pack with marquee wins across all product lines
o    For second year in a row, Ramco won the 2016 HR Vendors of the Year Award for Best Talent Management & Payroll
o    Buoyed by strong growth, Oceania headquarters was opened in Melbourne
·         Muted business outlook in Middle East impacts growth

Commenting on the results, P.R. Venketrama Raja, Vice Chairman and Managing Director, Ramco Systems, said, “The strategy to focus on HCM as an independent offering has been rewarding. We are seeing a great demand from organizations wanting to revamp their HR software and get a global view of their operations. Our multi-country payroll capability in addressing Asia, ANZ, Middle East, and parts of Africa on a single platform is a key differentiator that is driving global organizations to consolidate their Payroll on a unified platform. This unique capability is attracting even consulting firms and managed services providers to leverage the Platform to offer BPaaS (Business Platform as a Service) to its customers. We will continue to invest in bringing the latest innovations and usability in offering customers a compelling product to build their HR operations on.”