Ramco Systems Q1 revenue stood at USD 16.52m
EBITDA improves to USD 0.57m
Chennai, India – July 24, 2024: Ramco Systems (BSE-532370, NSE-RAMCOSYS), a global enterprise software company offering next-generation SaaS-enabled platform and products, today announced the results for the first quarter of the financial year 2024-25.
For the quarter ended June 30, 2024 (Q1: 2024-25), the global consolidated income of Ramco Systems Limited stood at USD 16.67m (Rs. 138.3Cr.).
Results at a Glance:
Financial Highlights:
- Witnessed a 4% QoQ growth in revenue
- Quarterly Order Booking stood at USD 19.43m
- Recurring revenue stood at USD 9.37m
- Unexecuted Order Book at a healthy USD 193m
- Debt-free as on June 30, 2024
- Signed 3 “Million-Dollar plus” deals
Business Highlights:
- First successful go-live of Ramco Payce, the recently launched SaaS-based payroll platform, at a multinational company, marking a significant milestone
- Ramco’s flagship product, Ramco ERP, continued to add marquee names to its clientele
- Asia’s leading cement manufacturing company embarked on an organization-wide enterprise transformation with Ramco
- Strengthened Ramco Aviation’s leadership position as a software provider for the Rotary and Fixed Wing special operations, underscoring our commitment to delivering cutting-edge solutions tailored to the unique demands of aviation
- Signed a contract with a North American entity to digitally transform their aircraft maintenance operations
- Ramco Payce continued to expand its global footprint
- An Australian engineering, design, and advisory company signed a multi-million-dollar deal with Ramco to centralize their payroll operations covering 7000+ employees across 11 countries
- One of the largest ecommerce companies in Japan selected Ramco to manage HR & payroll operations for over 3000 employees across 5 countries
- One of the national carriers in the Oceania region embarked on a payroll transformation to modernize their business, covering over 2,000 employees
- An enterprise tech company with ~3000 employees signed Ramco for its Australian and New Zealand payroll transformation
- A multinational tech company chose Ramco for its Singaporean and Australian payroll operations. In Phase I of the transformation Ramco will cover 3300+ employees
- Recognized at the prestigious Economic Times HR World Future Skills Awards 2024, held in July 2024; Bagged 2 Gold Awards for Best Corporate Learning University, Excellence in Learning Impact Measurement, and 1 Silver Award for Best Soft Skill Development Program
Commenting on the results, Sundar Subramanian, CEO, Ramco Systems, said, “Q1 has been a pivotal quarter for Ramco Systems. Several deals that had experienced delays in previous quarters were successfully closed in this quarter. Our rigorous internal processes around deal reviews, implementation cycles, and support, along with enhanced financial operations, are driving positive outcomes. Our ongoing transformation has clearly started yielding results.”