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Our Bureau

Chennai , Nov. 1

Ramco Systems Ltd has reported reduced net loss of Rs 3.59 crore for second quarter ended September 30, compared with a net loss of Rs 7.11 crore for the corresponding quarter in the previous year. Revenue was Rs 19.45 crore (Rs 33.85 crore), staff cost was Rs 15.15 crore (Rs 16.41 crore) and administration and selling expenses were Rs 4.31 crore (Rs 5.89 crore).

Ramco transferred its Secured Converted Networking division to Ramco Infotech Solutions, a wholly owned subsidiary, with effect from April 1, for a consideration of Rs 11.88 crore, according to the company's financial statement.

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