Business

Ramco Systems reports net loss of $5.72 mn in Q1

PR Venketrama Raja, chairman, Ramco Systems, said, “With a positive momentum in revenue along with our ability to deliver seamless experiences through innovation and excellence, we optimistically look forward to the following quarters.”

DTNEXT Bureau

CHENNAI: Ramco Systems posted a net loss after tax for the quarter stood at $5.72m (Rs 46.8cr) on a global consolidated income of $17.13m (Rs 139.9 cr).

PR Venketrama Raja, chairman, Ramco Systems, said, “With a positive momentum in revenue along with our ability to deliver seamless experiences through innovation and excellence, we optimistically look forward to the following quarters.”

Sundar Subramanian, CEO, Ramco Systems, said, “Ramco’s IP-rich platform and robust products have been a game-changer for our niche verticals...We have been seeing a higher adoption of our SaaS model, embedded with AI tools. We continue to maintain a competitive edge with investments in advance tools and technologies for better and faster delivery to market.”

RESULTS AT A GLANCE

Quarterly order Booking stood at $23.14m

Signed 4 ‘Million-Dollar plus’ deals; large deals signed across Global Payroll and Aviation business units

Revenue showing positive momentum with a 11% uptick Q-o-Q

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