Ramco Systems has announced the results for the first quarter of FY 2014-15.
For the quarter ended June 30, 2014 (Q1: 2014-15), global income of Ramco Systems Limited, including revenues from subsidiaries in the USA, Canada, Switzerland, Singapore, Malaysia, Australia, South Africa, Sudan and Dubai stood at US$13.06 million (Rs.77.80 crore). The QoQ revenue showed a healthy growth of 8.40% in dollar terms.
P. R. Venketrama Raja, Vice-Chairman & Managing Director, Ramco Systems Ltd, said, “Q1 has started on a good note with our overall revenue showing a sequential growth QoQ.
Interestingly, Cloud Computing which was earlier touted as the preferred option of small and medium enterprises is gaining good traction from large enterprises. This is a welcome sign as many large enterprises at the time of upgrade cycle are questioning the need for heavy CAPEX and are ready to relook at their IT backbone. We are witnessing this trend in multiple ERP and HCM opportunities globally where organizations are giving their traditional on-premise offering a miss to move to new-age application on Cloud. With large multinationals such as Norske Skog, Kerzner and Indian companies like Mother Dairy among others on board, we are confident of continuing the growth, in the quarters ahead.”
Successful Rights Issue, which corroborates the faith of investor community in Ramco’s future, allowed us to accelerate our process of transformation. We are increasing our investment into Product Enhancement, Talent acquisition, and Branding.
