Ramco Q1 revenue grows 25%

Ramco Systems announced the results for the first quarter of FY 2011-12. For the quarter ended June 30, 2011, global income of Ramco Systems, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia and South Africa stood at Rs 57.10 crore. The profit for the quarter stood at Rs 0.54 crore as against last year corresponding quarter profit of Rs 0.25 crore.

The company reported that its Q1 revenue grew 25% YoY. Notably, India (including Middle East & Africa) contributed 52% followed by Americas with 27%. Also, services like Ramco OnDemand ERP (ERP on Cloud) continues to show steady growth. The company also launched two new products on the cloud-Ramco OnDemand Analytics & Ramco OnDemand Gateway products.

Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman, Managing Director & CEO, Ramco Systems Limited, said, "We are stepping into the next phase of our marketing campaign with a radical message that is bound to stir the conventional ERP market. In the last few years, our Cloud ERP has matured and garnered significant user base. With the launch of Analytics on the Cloud, we now offer a complete suite of application software that covers the entire business lifecycle from the shop floor to the boardroom, on the cloud. In addition, there is also good demand for our Aviation, Government and Banking Analytics offerings, which, along with our cloud offerings (both public and private) will be thrust areas for growth in the coming quarters."