Ramco Systems Ltd share Price Today

IT Consulting & Software company Ramco Systems announced Q4FY24 & FY24 results:

• For FY24, global consolidated income of Ramco Systems Limited was USD 64.41 million (Rs 529.9 crore). The net loss after tax for the year stood at USD 29.41 million (Rs 241.9 crore).
• Recurring Revenue grew at a healthy pace of 13% YoY, as compared to 5% last year
• Signed 11 "Million-Dollar plus" deals; Q4 witnessed the addition of a record multi-million-dollar deal signed in the history of Ramco Systems
• Unexecuted Order Book stood at a healthy USD 188 million

Commenting on the results, P.R. Venketrama Raja, Chairman, Ramco Systems, said, "FY24 has been an eventful year for Ramco Systems. With an uptick in revenue and order bookings, the company achieved cashflow stabilization. The year also marked the beginning of our tech modernization journey with the launch of Ramco Payee. Our commitment to improving user experience and scalability, coupled with the adoption of cutting-edge technology stacks, is enabling us to provide best-in-class enterprise applications. I am confident that our emphasis on operational excellence will drive client satisfaction and enhance business agility."

Sundar Subramanian, CEO, Ramco Systems, said, "Our turnaround efforts are underway, and we are beginning to see positive signs of progress. Our strategic direction will remain focused on platform modernization and transformation. Our commitment to customer-centricity, combined with the power of our Saas-enabled platform, will empower organizations with seamless access to cutting-edge technologies and swift deployment, helping us deliver excellence. With our rich and extensive IP and specialized offerings in Aviation MRO and Global Payroll, I am confident that we are well-positioned to capture a significant share of the broader market."

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