Ramco Systems advances after order win

Ramco Systems was up 3.36% to Rs 427.30 at 12:08 IST on BSE after the company said it has won an order from Al Jazeera Support Services Company.

The announcement was made during market hours today, 27 November 2017.

Meanwhile, the S&P BSE Sensex was down 92.58 points or 0.27% at 33,586.66.

On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 9,790 shares in the past one quarter. The stock had hit a high of Rs 435 and a low of Rs 415 so far during the day. The stock had hit a 52-week high of Rs 467.95 on 2 November 2017 and a 52-week low of Rs 286 on 15 December 2016.

Ramco Systems said it has won an order from Al Jazeera Support Services Company, a closed joint stock company, providing rental manpower needed by government, business sectors and individuals, to implement Ramco ERP for services suite.

On a consolidated basis, Ramco Systems reported net profit of Rs 6.50 crore in Q2 September 2017 compared with net loss of Rs 1.10 crore in Q2 September 2016. Net sales rose 2.5% to Rs 115.15 crore in Q2 September 2017 over Q2 September 2016.

Ramco Systems is a fast-growing enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in the area of HCM and global payroll, ERP and M&E MRO for aviation.

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