Ramco widens net loss

By : |April 30, 2005 0



CHENNAI: Ramco Systems Ltd has posted a net loss of Rs 40.36 crore for the year ended March 31, 2005 as compared to a net loss of Rs 33.26 crore for the year ended March 31, 2004. Total Income has increased to Rs 122.78 crore for the year ended March 31, 2005 from Rs 85.91 crore in the last fiscal year.



The company has posted a net loss of Rs 30.03 crore for the quarter ended March 31, 2005 as compared to net profit of Rs 4.2 crore for the quarter ended March 31, 2004. Total Income has increased to Rs 34.9 crore for the quarter ended March 31, 2005 from Rs 34.4 crore in the corresponding period last year.



The Group has posted a net loss of Rs 67.92 crore for the year ended March 31, 2005 as compared to a net loss of Rs 49.19 crore for the year ended March 31, 2004. Total Income has increased to Rs 224.61 crore for the year ended March 31, 2005 from Rs 172.57 crore to Rs 34.9 crore for the quarter ended March 31, 2005.



The Group has posted a net loss of $10.31 million for the quarter ended March 31, 2005 as compared to a net profit of $0.18 million for the quarter ended March 31, 2004. Total Income has increased to $13.83 million for the quarter ended March 31, 2005 from $12.04 million to Rs 224.61 crore for the year ended March 31, 2005.



Commenting on the results, Ramco vice chairman, MD and CEO PR Venketrama Raja said, “The growth in revenues this year, has been due to successful multi-country implementations of adaptive enterprise solutions. We expect a similar growth for the next fiscal with major contributions in the later half. This is primarily due to tier 1 prospects and large partners, evincing interest in our technology and exploring long term relationships.”

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