Ramco Systems spurts after turnaround Q3 numbers

Ramco Systems rose 16.11% to Rs 537.80 at 12:25 IST on BSE after the company reported consolidated net profit of Rs 8.03 crore in Q3 December 2014 compared with net loss of Rs 5.49 crore in Q3 December 2013.

The result was announced after market hours yesterday, 4 February 2015.

Meanwhile, the BSE Sensex was up 95.52 points, or 0.33%, to 28,978.63.

On BSE, so far 1.49 lakh shares were traded in the counter, compared with an average volume of 3,935 shares in the past one quarter.

The stock hit a high of Rs 555.80 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 501 so far during the day. The stock hit a 52-week low of Rs 152.58 on 19 February 2014.

The stock had underperformed the market over the past one month till 4 February 2015, falling 0.61% compared with 3.57% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 8.22% as against Sensex's 3.67% rise.

The small-cap company has an equity capital of Rs 24.35 crore. Face value per share is Rs 10.

On a consolidated basis, Ramco Systems' net sales rose 41.8% to Rs 95.93 crore in Q3 December 2014 over Q3 December 2013.

Commenting on the results, P.R. Venketrama Raja, vice chairman and managing director, Ramco Systems, said, "In the last two years, the company has taken multiple steps to arrest losses, sustain growth and move to profitability. From entering new markets, to focusing on making the product highly usable, efforts on all directions were taken to build a nimble and progressive cloud company. I am glad the efforts have started to pay off with financial results and customer feedback reflecting the positive sentiment."

Ramco Systems is a software company focused on consulting, products, and managed services business.

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