Ramco Systems posts Q1 revenue of USD 15.70m
Chennai, India – July 26, 2022: Ramco Systems (BSE – 532370, NSE – RAMCOSYS); a global enterprise software company focusing on Next Generation Cloud Enterprise Applications, today announced the results for the first quarter of the financial year 2022-23.
For the quarter ended June 30, 2022 (Q1: 2022-23), global consolidated income of Ramco Systems Limited stood at USD 15.84m (Rs 120.9cr). The net loss after tax for the quarter amounted to USD 6.64m (Rs. 50.7cr).
- Quarterly order booking stands at USD 21.77m – highest in the last five quarters
- Ramco Global Payroll & HR business unit witnesses 85% growth in order bookings QoQ
- 5 ‘Million-Dollar-Plus’ deals signed
- Wins during the quarter include 5 orders from Fortune 200 companies
- Newly formed U.S. based defense subsidiary bags first order from a leading MRO defense prime contractor
- Voice-enabled transactions on Ramco CHIA for enhanced employee experience
- Increased automation leveraging RPA to fast-pace customer deliveries, leading to quicker go-lives
- Continue to strengthen footprint in the US; Successful implementation of Ramco ERP at a US-based leading facility management and commercial cleaning service provider, offering 360-degree view of its business operations
Commenting on the results, P.R. Venketrama Raja, Chairman, Ra mco Systems, said, “Our investments in the automation of impl em entation and deployment processes have started showing results in reliable and faster project deployments and are thereby impro ving our ability to provide enhanced customer experience.”
“The current quarter witnessed improved order booking as a result of most markets opening up their borders, thereby enabling closer, in-person engagements with customers and prospects. This positive momentum is seen across business lines and geographies, in line with the investments we have made in last few quarters” added Ra ja.
About Ramco Systems:
Ramco is a next-gen enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HR and Global Payroll, ERP and M&E MRO for Aviation. Part of the USD 1 billion Ramco Group, Ramco Systems focuses on Innovation and Culture to differentiate itself in the marketplace. On the Innovation front, Ramco has been focusing on moving towards Active ERP leveraging Artificial Intelligence and Machine Learning 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 transactions using natural conversations; Mail It – tran sact with the application by just sending an email; HUB It – a one screen does it all concept built to address all activities of a user; Thumb It – mobility where the system presents users with option to choose rather than type values and Prompt It – a cognitive ability which will let the system complete the transaction and prompts the user for approval.
With 2000+ employees spread across 28 offices, globally, Ramco follows a flat and open culture where employe es 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!
Conferred as Malaysia’s Best Employer Brand 2022;
Winner of Global Payroll Association’s Innovation Award 2021;
Winner of 2020 ISG Paragon Awards Asia Pacific, for ‘Transformation’ and ‘Collaboration’ Awards;
Leader in NelsonHall’s NEAT Matrix for Next Gen Payroll Services
For more information, please visit http://www.ramco.com/
Certain statements in this release concerning our future growth prospects are forward looking statements whi ch 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 co mpetition 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 op erations, 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 int ellectual 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 rep orts 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.