Ramco Systems’ Q3 profit triples amid mega orders

Our Bureau. Chennai | Updated on February 04, 2021

IT services firm Ramco Systems’ global consolidated net profit in the third quarter ended December 31, 2020, tripled to ₹18 crore, against ₹6 crore in the same quarter the previous year. Revenue rose 16 per cent to ₹171 crore (₹147 crore), thanks to good quarterly order bookings, said a company release.

During the quarter, the company signed six million-dollar-plus deals with the average deal size moving beyond $1 million. Among the deals, Iberia Maintenance, one of Europe’s leading MRO service providers, selected Ramco to digitally transform its business operations on a unified platform, it said.

PR Venketrama Raja, Chairman, Ramco Systems, said: “The pandemic has stepped up the need for organisations to go digital to survive and grow. It has helped speed up the transformation agenda for businesses, globally.”

Digital focus

“We see this as an opportunity for organisations to relook their existing processes and adopt newer ways to experience exponential savings in time, cost and effort. It is this focus that we place on delivering measurable results, that has helped us continue to win the trust of global businesses. With a focus on technology and innovation, we are here to define the new normal,” Venketrama Raja added.

Published on February 04, 2021

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