Ramco Systems Q1 revenue grows 6% YoY
Ramco Systems Q1 revenue grows 6% YoY
Thrust on Logistics, Defense, Operational HR & Global Payroll-led opportunities continues; Witnesses marquee clients going live and reaping benefitsIncreasing interest seen from both existing and new clients to adopt chatbots, AI & ML
Rajapalayam, India – August 07, 2019: Ramco Systems (BSE – 532370, NSE – RAMCOSYS); a global enterprise so ftware company focusing on Next Generation Cloud Enterprise Applications, today announced the results for th e first quarter of 2019-20.
For the quarter ended June 30, 2019 (Q1: 2019-20), global consolidated income of Ramco Systems Limited s tood at USD 20.47m (Rs 141.9 cr). The net profit after tax for the quarter, amounted to USD 0.41m (Rs.2.9 cr).
Q1 Financial highlights:
- Quarterly order bookings stood at USD 21.53m
- 5 ‘Million-Dollar-Plus’ deals signed
Q1 Business highlights:
- Revenue from markets outside India stood at 68%
- Ramco’s implementation at Standard Chartered Bank won the Global Payroll Transformation Project of the Year Award at GPA Awards
- Europe’s leading rail and multimodal freight forwarding company, Forwardis signed a Digital Transformation program to implement Logistics ERP
- Ramco Aviation went live for a leading In-flight entertainment solutions provider with operations spread across 70+ line stations and repair stations in 28 countries
- Defense-led focus continues to yield result with the winning of a maintenance software deal from leading adversary training services provider to air forces across Canada, Germany and Australia.
Commenting on the business focus, P.R. Venketrama Raja, Chairman, Ramco Systems, said, “Enterprise Applca tions are like the foundation of a building. Having a strong foundation is key to building layers of innovation and transformation on top. To achieve the desired results, one must focus on all three aspects – standardization, opt imization and innovation. At Ramco, we are building a platform-centric approach to digital transformation to en able clients reap the complete benefit of their investments. I am glad, this approach is helping us stay ahead of competition who address the market with bolt-on or point solutions.”
“Having won client trust in U.S., Asia, Australia and Middle East, Logistics ERP expanded into Europe with For wardis win. Overall, we continue to see good traction for our suite of enterprise appl ications, multi-country payroll and Aviation Suite,” added Raja.
About Ramco Systems:
Ramco is a next-gen enterprise software player disrupting the market with its multi-tenant cloud and mobile-ba sed enterprise software in HR and Global Payroll, ERP and M&E MRO for Aviation. Part of the USD 1 billion Ram co Group, Ramco Systems focuses on Innovation and Culture to differentiate itself in the marketplace. On Innov ation front, Ramco has been focusing on moving towards Active ERP leveraging Artificial Intelligence and Mach ine Learning and Event Driven Architecture by building features such as Talk It – which allows transactions to be carried out by simple voice commands, Bot it – which allows users to complete transaction using natural co nve rsations; Mail It – transact with the application by just sending an email; HUB It – a one screen does it all co ncept built to address all activities of a user; Thumb It – mobility where the system presents users with option to choo se rather than type values and Prompt It – a cognitive ability which will let the system complete the transa ction and prompts the user for approval.
With 1900+ employees spread across 24 offices, globally, Ramco follows a flat and open culture where emp lo yees are encouraged to share knowledge and grow. No Hierarchies, Cabin-less Offices, Respect work and not titles, among others are what makes the team say, Thank God it’s Monday!
Only APAC vendor to be positioned in Gartner Magic Quadrant for ERP, Cloud Financials, Cloud HCM and EAM; Leader in NelsonHall’s NEAT Matrix for Next Gen Payroll Services
Awarded for Payroll Innovation in 2018 by Global Payroll Association;
Positioned as Major Contender in Everest Group’s Multi-Country Payroll Platform PEAK Matrix
For more information, please visit http://www.ramco.com/
Certain statements in this release concerning our future growth prospects are forward looking statements wh ich 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 com petition 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, with drawal 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. Th e 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.