Ramco Systems Q4 PAT tumbles 59% QoQ to Rs 7 cr

On a consolidated basis, Ramco Systems' net profit tanked 58.90% to Rs 7.45 crore on 12.55% decline in revenue from operations to Rs 149.86 crore in Q4 March 2021 over Q3 December 2020.

Profit before tax dropped 59.03% to Rs 14.78 crore in Q4 FY21 as against Rs 36.08 crore in Q3 FY21.

During the financial year, Ramco Systems' net profit soared 419.61% to Rs 56.69 crore on a 10.08% increase in revenue from operations to Rs 626.30 crore in FY 2021 over FY 2020.

In FY21, order booking crosses $100 million, records 21% YoY growth. The company said it generated sufficient cashflow to repay the entire borrowings and become debt free.

Commenting on the results, P.R. Venketrama Raja, chairman, Ramco Systems, said,Organizations today understand that to stay competitive in this new normal, they require new strategies and practices. Numerous companies continue to embrace digital transformation and have transformed businesses forever. With digital adoption witnessing a phenomenal leap, we at Ramco have been doubling our efforts to transform customer experiencethat has been a top driver of digital transformation. Our thrust on technology and innovation continues tohelp us win the trust of leading businesses, globally.

Ramco Systems is an enterprise software, offering cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.

Shares of Ramco Systems jumped 5.55% to Rs 604.50 on BSE. The scrip traded in the range of Rs 528 to Rs 608.25 so far.

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