Ramco Systems Q3 loss stands at Rs 26.4 crore

CHENNAI: Ramco Systems, global enterprise software company focusing on next-generation Cloud Enterprise Applications, has reported a consolidated income of $15.58 mn (Rs 128.9 crore) for the quarter ended December 31, 2023. The net loss after tax for the quarter stood at $3.13 mn (Rs 26.4 cr).

Its quarterly order booking stood at $7 mn while unexecuted order book at $180.3 mn. The company has signed partnerships with Deloitte Touche Tohmatsu India LLP and BDO India. These alliances will blend Ramco’s advanced payroll platform with the vast consulting prowess and services offered by these partners, establishing a benchmark for global payroll excellence.

Sundar Subramanian, CEO, Ramco Systems, said, “We are continuing on our path of significant turnaround, simplifying and strengthening our business. Our focus remains on innovation, ensuring the delivery of quality products to our clients. With a commitment to agile product implementations, improved user interfaces, and accessible, partner-compatible platforms, we’re deepening our investment in modern technologies like low-code development, zero-friction UX and embedded AI. This strategy positions us to thrive, even in uncertain economic conditions, as we forge ahead, ready to embrace future opportunities.”

“As our turnaround strategy unfolds, we are expecting stronger growth and improved results in the coming quarters. This positive change reflects our commitment to excellence and strategic partnerships, setting us on a path to outperform expectations and secure a leading position in the industry” he added.