Ramco Systems Q3 revenue grows 21% YoY
Posts revenue of USD 18.69m; EBITDA continues to remain positive at USD 1.8m
Chennai, India – February 05, 2025: 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 third quarter of the financial year 2024-25.
For the quarter ended December 31, 2024 (Q3: 2024-25), the global consolidated income of Ramco Systems Limited stood at USD 18.81m (Rs. 157.6Cr.).
Results at a Glance:
Financial Highlights:
- Witnessed a 9% QoQ growth in revenue
- Quarterly Order Booking recorded at USD 14.6m
- Signed 4 “Million-Dollar plus” deals
- Recurring revenue recorded at USD 10.74m
- During the quarter, adverse forex fluctuation was USD 1.3m (against a favourable forex fluctuation of USD 0.9m)
- EBITDA excluding the forex fluctuation for the quarter has improved to USD 3.11m from USD 1.22m, in the previous quarter
Business Highlights:
- Added marquee names to the growing clientele, including:
- A leading early learning services provider in Australia selected Ramco to embark on a payroll transformation with Ramco Payce
- Saudi Arabia’s leading one-stop logistics service provider partnered with Ramco to digitize its transportation and warehouse management
- One of the top 5 Banks in Malaysia selected Ramco to streamline the payroll operations for its 5000+ employees
- Philippines headquartered pioneers in outsourcing services chose Ramco to transform its payroll operations
- One of the world’s largest communications groups selected Ramco to manage multi-country payroll operations for 4000+ employees across its GCC (Global Capability Center) arm
- Bagged the HR Vendors of the Year 2024 Awards for Best Payroll Software and Best Payroll Outsourcing Partner in Malaysia, Singapore, and Hong Kong
- Recognized as one of the Progressive Places to Work 2024, and among the Best Brands in India 2024 by ET Now
Abinav Raja, Managing Director, Ramco Systems, said, “We are in the midst of a transformation, and the early results are promising. To sustain this momentum, we remain committed to the operational rigor. With positive cash flow, improved customer retention, enhanced client serviceability, and a tech refresh underway, our focus is now shifting towards growth.”
Sandesh Bilagi, COO, Ramco Systems, said, “The past few quarters have been pivotal in our modernization journey across business units. With strong market interest in Ramco Payce and Ramco Aviation Software 6.0, we are also refining our operational parameters and upgrading technology to drive greater efficiency. We remain committed to this rigor as we continue to improve in the coming quarters."