Ramco Systems reported a net profit of $1.33 million for the quarter ended December 31, 2014 as against a net loss of $0.88 million for the same quarter last year.
The net profit in the quarter was the highest in the last 10 years on a comparable basis, said a company press release.
Global consolidated revenue was $16.02 million ($14.61 million), a 44 per cent growth year-on-year. During the quarter, revenue from markets outside India was 73 per cent.
PR Venketrama Raja, Vice-Chairman and Managing Director, Ramco, said, in the last two years, the company has taken multiple steps to arrest losses, sustain growth and move to profitability. From entering new markets, to focusing on making the product highly usable, efforts on all directions were taken to build a nimble and progressive cloud company. The efforts have started to pay off with financial results and customer feedback reflecting the positive sentiment.
The company’s partner strategy has begun to bear results with nearly 35 per cent of projects in Human Capital Management was implemented by partners, the release said.
According to Virender Aggarwal, CEO, Ramco, in a knowledge economy, only a high-growth, high-potential organisation, which is open to embracing Gen-Y talent can strive to stay ahead of competition.