Ramco Systems sees net loss of Rs 242 cr in FY24

CHENNAI: Ramco Systems reported a net loss after tax of $29.41 mn (Rs 241.9 cr) for the year ended March 31, 2024. Its global consolidated income was $64.41 mn (Rs 529.9 cr) in FY2023-24. Teh company’s recurring revenue grew at a healthy pace of 13 per cent YoY, as compared to 5 per cent last year.

The global enterprise software company offering next-generation SaaS-enabled platform and products, clocked a global consolidated income of $16.00 mn (Rs 132.3 cr) for the quarter ended March 31, 2024.

Its unexecuted order book stood at $188 mn. PR Venketrama Raja, chairman, Ramco Systems, said, “FY24 has been an eventful year for Ramco Systems. With an uptick in revenue and order bookings, the company achieved cash-flow stabilisation.”