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Ramco Continues its Growth Momentum, Clocks 16% QoQ Revenue Growth


February 13, 2013 - Chennai, Tamil Nadu, India

Ramco Systems (BSE - 532370, NSE – RAMCOSYS, MSE – RSST); an enterprise software company focused on next generation Cloud ERP products today announced the results for the third quarter of FY 2012-13.

For the quarter ended December 31, 2012 (Q3:12-13), global income of Ramco Systems Limited, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia, South Africa and Dubai stood at USD 12.36 mn (Rs. 66.20 cr).

Highlights – Q3 2012-13:

• Sees good traction for Ramco ERP on Cloud in Americas
• Adds SPATIAL capability to its ERP product line with Google Maps
• Aviation business soars high with news wins from GoAir, Air Tahiti, Emirates and a leading airline in the Caribbean
• Continues to strengthen its partner ecosystem by adding over 20 partners in USA and 10 in MEA

Mr. P. R. Venketrama Raja, Vice Chairman & Managing Director, Ramco Systems Limited, said, “Globally, we have started getting some very good market recognition for our Cloud offerings. As we further strengthen our presence, the focus will be to build futuristic enterprise solutions that customers will value. In line with this, we are building Mobility, Usability, Spatial, In Memory and Context-aware Enterprise solutions (acronym MUSIC), that will address the new-age customer. This has been well received by both customers and prospects and as we build more such features, we look forward to building an ERP that every user would want to use.”

Commenting on the results, Mr. Virender Aggarwal, CEO, Ramco Systems Limited, said, “We have been gaining good traction in global markets for Ramco ERP on Cloud, especially in markets such as US and Australia. Our partner strategy coupled with focus on building the brand using digital medium have started paying results. Our focus will now be towards building features that will help us differentiate and stand-out from the rest of the ERP vendors. On the business front, our revenues have been growing QoQ and we look forward to continue this growth in the future.”

About Ramco Systems:

Ramco Systems provides next generation, end-to-end enterprise solutions that render complete transformation of the business in real time. Built on Ramco VirtualWorks®, all Ramco products are cloud architected by design and address the entire business cycle from transaction to analytics. Part of the USD 1 Billion Ramco Group, the company offers ERP, HCM, SCM, CRM, Financials, Asset Management, Process Control, Project Management and Analytics to multiple verticals on the most appropriate cloud model—public, private and community. Ramco focuses on providing innovative business solutions that can be delivered quickly and cost-effectively in complex environments. Globally, Ramco has over 150,000+ users from 1000+ customer organizations across 35 countries. The company currently has 17 offices spread across USA, Canada, Europe, India, Middle East, South Africa and APAC and employs over 1,800 employees.

For more information, please visit www.ramco.com; Follow Ramco on Twitter @ramcosystems

Safe Harbor
Certain statements in this release concerning our future growth prospects are forward looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT business including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Ramco Systems may, from time to time, make additional written and oral forward-looking statements, including statements contained in our reports to shareholders. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.--

Source: Business Wire India

BusinessWireIndia

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