Ramco Systems Q3 profit falls 43% on forex loss

Our Bureau Chennai | Updated on February 08, 2018

Net profit for Ramco Systems Ltd, a city-based IT company, declined by 43 per cent to ₹3.70 crore for third quarter ended December 31, 2017, against ₹6.50 crore for corresponding quarter previous year. Forex loss impacted bottomline to tune of ₹5.34 crore during third quarter, says a company press release.

Revenue increased marginally to ₹125 crore (₹117 crore).

Average deal size continues to rise with 12 ‘half-a-million dollar plus’ deals in third quarter. Cloud bookings stood at 54 per cent on a year-to-day basis, ensuring recurring revenue build up for future. In line with previous quarters, unexecuted order book grows to $140 million; third quarter order bookings stood at $24.5 million, the release said.

Revenue from markets outside India stood at 80 per cent with Asia registering good performance on both booking and revenue. Myanmar, Indonesia, the Philippines and Singapore are key markets driving Asia growth, which reinforces focus and investments made in newer geographies in Asia, the release said.

North America recorded its highest revenue in last five years, a positive trend showing the product gaining acceptance in mature and highly competitive markets.

On the BSE, the company’s share priced closed at ₹460.15, down by 0.10 per cent.

Published on February 08, 2018

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