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Ramco takes off with Aviation and Domestic market

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CIOL Bureau
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CHENNAI: Ramco Systems Limited announced, the results for the fourth quarter of FY 2010-11. The India operations (including Middle East and Africa) contributed 60 per cent, followed by US with 22 per cent, depicting stronger domestic scenario. Newer markets like Middle East and Africa continued to show significant growth.
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For the quarter ended March 31, 2011 (Q4:10-11), global income of Ramco Systems Limited, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia and South Africa stood at $13.12 m (Rs 58.94 cr). The profit for the quarter stood at $0.22 m (Rs 0.98 cr) as against last year corresponding quarter profit of $0.06 m (Rs 0.26 cr). 
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For the year ended March 31, 2011 (FY: 2010-11), global income of Ramco Systems Limited grew at 27.82 per cent to $47.41 m (Rs 214.21 cr). The profit for the year stood at $0.51 m (Rs 2.31 cr) as against last year corresponding year profit of $0.40 m (Rs 1.88 cr). 
It added 176 new customers during the year, and claims to have established itself as a prominent player in the public cloud ERP space with Ramco OnDemand ERP. The company also said that Aviation business bounced back with significant wins during the year and that it sees increasing demand for Analytics suite comprising of Banking and Enterprise Analytics delivered both as public and private cloud. 
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Ramco launched its Software as a Service (SaaS) Enterprise Resource Planning (ERP) offering for the Aviation, Aerospace and Defense industry targeting the US market. 
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P.R. Venketrama Raja, Vice Chairman, Managing Director & CEO, Ramco Systems Limited, said, - "The year 2010-11 has been a very important one for us as we embarked on a drive to enhance our brand image through marketing initiatives on print, outdoor and online media. This coupled with a strong cloud offering has helped us position Ramco as a leading player in the cloud ERP space. In addition to gaining significant traction from the market, we have also witnessed the brand get better market recognition. As a company, we are now focused on consolidating our efforts into high growth, high potential products and markets. In FY 2011-12, the emphasis is on enhancing the competitiveness of our overall operations through Verticalization. This will ensure that each unit is a self-contained entity having the domain expertise to handle the complete solution end-to-end. As we step into the next phase of growth, powered with strong offerings in both private and public Cloud, Aviation and Analytics, we look forward to good growth in the business in the year ahead."