Despite the Covid-19 pandemic, Ramco Systems Limited reported the highest ever net profit of ₹14 crores for the quarter ended June 30 against ₹3 crores for the same quarter last year.
Interestingly Ramco had reported a profit for ₹11 crores for the entire financial year 2019-20, whereas the first quarter itself has brought. ₹14 crores profit.
The quarter ended June 30, 2020 (QI: 2020-21), the consolidated global income of Ramco Systems Limited stood at USD 19.89m (Rs 148.6cr). The net profit for the Q1 amounted to USD I .85m (Rs. 13.8cr), highest ever.
This is How Ramco Profit grew despite COVID-19 slowdown:
Ramco Systems Limited (BSE: 532370, NSE: RAMCOSYS) is an Indian Product based Software company headquartered in Chennai and provides Aviation, ERP, HCM, Global Payroll, and Logistics products. Profit increase is due to good wins in the aviation and logistics sectors, and operational measures.
Ramco had four multi-million dollar deals and a major aviation vertical deals with a leading US-based MRO OEM player.
According to Ramco company statement, The focus on innovation, digital transformation, and strategic entry into the US Defense sector led to the aviation business soaring high. Ramco Logistics signed a deal with one of the leading conglomerates for its upcoming logistics arm in India.
Ramco is focusing on delivering Innovative offerings such as Pandemic Control System, which helps organizations better plan for workforce management (WFM) processes as employees return to work post the COVID-19 pandemic.
With remote planning and deployment being the ‘new normal’ Ramco witnesses the successful go-lives of its enterprise applications across India, Philippines, Singapore, Macau, Egypt, Malaysia, Thailand, Indonesia
For the third year in a row, Ramco positioned in Nucleus Research’s Workforce Management Technology Value Matrix 2020.
Ramco has 1800+ employees spread across 24 offices globally. According to Ramco, there are No Hierarchy, and it has Cabin-less Offices where employees are encouraged to share knowledge and grow. Ramco has a flat and open culture and respect work, not titles.
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