Ramco Systems increases revenue and losses
31 Oct 2005
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Chennai: The city-based software company Ramco Systems Limited has increased its revenue as well as loss figures during the first half of the current fiscal. On a revenue of Rs66.15 crore, the company has posted a net loss of Rs12.75 crore. The figures for the corresponding period last year were Rs58.81 crore and Rs6.96 crore. According to the company, the solution delivery model using Ramco VirtualWorks solution has been well received by the customers and has resulted in repeat orders for enterprise solutions.
The global revenue from RamcoVirtualWorks business grew to $11.82 million during the first six months as compared to $8.16 million earned during the first half of the previous year.
Notable among the offerings were the banking, financial services and insurance (BFSI), e-governance and aviation solutions, which witnessed substantial growth.
Ramco Systems is also testing innovative models of providing subscription-based enterprise solutions as a service over the Internet. Initial reactions from early customers have been encouraging.
