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Friday, Jan 31, 2003

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Ramco posts higher loss

Our Bureau

CHENNAI, Jan. 30

RAMCO Systems Ltd has reported a higher net loss of Rs 9.64 crore on net sales of Rs 19.24 crore for the quarter ended December 31, 2002, against a net loss of Rs 8.09 crore on net sales of Rs 18.68 crore for the corresponding quarter last year.

Expenditure during the December quarter of fiscal 2003 was Rs 25.12 crore (Rs 24.62 crore).

The expenditure includes product research and development expenditure capitalised of Rs 5.46 million and amortisation of product and research and development expense at Rs 0.97 crore.

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