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Ramco Systems spurts after inking deal with Canadian firm

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Ramco Systems rose 5.49% to Rs 241.95 at 14:36 IST on BSE after the company said it inked seven-year tech transformation deal with a Canadian logistics services provider.

The announcement was made during market hours today, 28 February 2019.

Meanwhile, the S&P BSE Sensex was up 92.07 points, or 0.26% to 35,997.50.

On the BSE, 4,533 shares were traded in the counter so far compared with average daily volumes of 1,095 shares in the past two weeks. The stock had hit a high of Rs 248.80 and a low of Rs 230 so far during the day. The stock hit a 52-week high of Rs 520.85 on 25 April 2018. The stock hit a 52-week low of Rs 200 on 11 February 2019.

Canadian logistics and supply chain leader J.P. Enterprises Logistics Corp announced it will implement Ramco Systems' logistics software, kick starting a digital transformation that will serve as a springboard for expansion and entry into the e-commerce space.

Ramco has commenced the seven-year partnership by installing its end-to-end cloud logistics software at J.P. Logistics' warehouses. The solution will also offer a customer portal to J.P. Logistics' extensive partner network - which spans across China, Europe and 42 US locations - and eventually replace all of J.P. Logistics' legacy systems.

Ramco's integrated logistics ERP software includes warehouse management, transportation management, as well as rating and billing along with ERP financials to automate operations and invoicing.

On a consolidated basis, Ramco Systems reported net loss of Rs 2.97 crore in Q3 December 2018 as against net profit of Rs 3.56 crore in Q3 December 2017. Net sales rose 14.73% to Rs 143.58 crore in Q3 December 2018 over Q3 December 2017.

Ramco Systems is a next-gen enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HCM and Global Payroll, ERP and M&E MRO for Aviation.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 28 2019. 14:34 IST