Press release from Business Wire India
Source: Ramco Systems Limited
Friday, February 03, 2012 05:36 PM IST (12:06 PM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Financial Analyst, Information technology, Stock exchanges; Technology
Ramco Posts Global Income of USD 13.24 m
Secures 73 new orders in Q3
Chennai, Tamil Nadu, India, Friday, February 03, 2012 -- (Business Wire India) -- Ramco Systems Limited (BSE - 532370, NSE - RAMCOSYS, MSE - RSST); a software company focused on consulting, products and managed services, today announced, the results for the third quarter of FY 2011-12.
For the quarter ended December 31, 2011 (Q3:11-12), global income of Ramco Systems Limited, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia, South Africa and Dubai stood at USD 13.24 m (Rs.65.33 cr). The net profit for the quarter stood at USD 0.33 m (Rs 1.43 cr).
Highlights - Q3 2011-12:
-- Adds 73 new wins in Q3, including 45 from Ramco OnDemand
-- India (including Middle East & Africa) was the primary revenue driver with 50% followed by Americas with 29%.
-- Logistics business showed good traction in India;
-- A leading MNC bank in India chose Ramco's Banking Analytics offering for its ADF requirement
-- Aviation business continued to grow steadily with new wins such as Columbia Helicopters, T'way Airlines, and Ornge
Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman, Managing Director & CEO, Ramco Systems Limited, said, - "Historically, Q3 is the toughest quarter in a product business but this year we have secured 73 new orders in Q3. Our cloud ERP offering has continued to garner the market momentum and is now clocking 45 orders a quarter. Going forward, we are confident that this number will continue to grow steadily. Aviation, which is one of our strongest product lines, continued to expand its reach globally with significant wins. In addition to this, our strategy to focus on high-growth, high-potential verticals such as Logistics, Banking and Cement are paying results. Overall, we have the right products to address the latent market demand and are confident of positive growth in the years ahead."
About Ramco Systems:
Ramco Systems, a part of the USD 952 million Ramco Group, is a software company focused on consulting, product and managed services business. Headquartered in Chennai, Ramco Systems was started as an R&D division of Ramco Industries Limited in 1992, and later established as an independent company in 1999. The company focuses on providing innovative business solutions that can be delivered quickly and cost-effectively in complex environments. Globally, Ramco has over 140,000 users from 950+ customer organizations since inception. The company currently has 15 offices spread across India, USA, Canada, Europe, Middle East, South Africa and APAC and employs over 1,800 employees.
Ramco's key differentiator is its innovative approach to develop products through its revolutionary enterprise application assembly and delivery platform - Ramco VirtualWorks®. Ramco Systems has seven major product suites - Ramco Enterprise Suite, Ramco Enterprise Asset Management Suite, Ramco Aviation, Ramco OnDemand ERP (ERP on Cloud), Ramco Enterprise Information Management Suite, Ramco Advanced Process Control, and Ramco Mine Management. Strong domain knowledge coupled with proven implementation expertise enables Ramco to provide specialized solutions in verticals such as Manufacturing, Real Estate & Construction, Energy & Utilities, Logistics, Service, BFSI, Aviation, Government and Defense.
Ramco Systems has been assessed for ISO 9001:2008 and ISO 27001:2005 information security standards. Ramco's BPO unit is SAS 70 Type II certified.
For more information, please visit www.ramco.com
Follow Ramco on Twitter @ramcosystems /read latest news & updates on http://www.ramcoblog.com/
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.
To View the results, please click on the links given below:
Unaudited Standalone Financial Results for the Quarter Ended December 31, 2011
Unaudited Global Consolidated Financial Results (under AS-21) for the Quarter Ended December 31, 2011
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/unaudited results_Q3_11_12_global_16x25 (2).pdf
unaudited results_Q3_11_12_global_16x25 (2).pdf
Vinitha Ramani , Ramco Systems Limited, +91 9840368048, firstname.lastname@example.org
Twinkle Xavier, 20:20 MSL, +91 9884480115, email@example.com
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