Chennai : Ramco Systems Limited a leading software company focused on consulting, products, and managed services, today announced, the results for the second quarter of FY 2010-11.

For the first half of the year (H1: Apr-Sep ‘10), total global revenues of Ramco Systems Limited, including revenues from subsidiaries in USA, Switzerland, Singapore, Malaysia and South Africa stood at USD 20.90 mn (Rs 95.15 cr). The profit for the first half of the year stood at USD 0.17 m (Rs 0.79 cr).

For the quarter ended September 30, 2010 (Q2:10-11), global income of Ramco Systems Limited, including revenues from subsidiaries in USA, Switzerland, Singapore, Malaysia and South Africa stood at USD 11.04 m (Rs 50.85 cr). The profit for the quarter stood at USD 0.11 m (Rs 0.54 cr) as against last year corresponding quarter profit of USD 0.11 m (Rs 0.53 cr), thereby maintaining breakeven.

Financial highlights:

• Q2 revenue grows 23% YoY

• India operations contributed 52%, followed by US with 27%, as against last year corresponding quarter contributions of 44% and 34% respectively, depicting stronger domestic scenario.

• India was the primary revenue driver followed by the US operations.

• Middle East & North African markets have shown significant growth contributing 21% as against last year corresponding quarter contributions of 11%.

Business highlights:

• Adds 33 new customers

• Sees good traction for Ramco OnDemand ERP, backed by a strong marketing campaign

• Makes major inroads for its Aviation business, globally

o Signs a prestigious contract with National Aviation Company of India Limited (NACIL) for Maintenance, Repair & Overhaul (MRO) suite of Aviation software offerings

o Wins fleet and MRO deals in the Americas & Indonesia

• Steady growth in Middle East and Africa geography

o Wins orders from Gulf Petrochem and Gulf Precast Concrete Company L.L.C. (GPCC), two leading, high-growth UAE companies in their respective industry segments, to offer its full-suite of Ramco Enterprise Series Solution.

Other announcements:

• Mr. D. Rajasekar and Mr. R. Shankar were elevated as Executive Vice Presidents. Mr. D. Rajasekar will be responsible for Analytics and Ramco OnDemand ERP businesses. Mr. R. Shankar, who has been heading Middle East and Africa, also takes over additional responsibility for the India geography.

Product launch:

• Ramco OnDemand ERP 2.0 – During this quarter, the company launched an upgraded version of its SaaS based ERP – Ramco OnDemand ERP 2.0 – India’s first full-fledged ERP offering on the cloud. RODE 2.0 adds significant functionalities, features, and modules over the earlier offering. The ERP offering has a rich user interface and comes with a unique set of extension / customization capabilities.

• Ramco Systems launched its newest Enterprise Solutions set for the Medical-Hospital-Healthcare sector in the Americas.

Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman, Managing Director & CEO, Ramco Systems said, – “This has been a very important quarter for us at Ramco, as we embarked on a large-scale marketing campaign to promote our SaaS based offering – Ramco OnDemand ERP in print and outdoor media. In addition to tremendous market response, the campaign has also helped us position Ramco as an ERP company having a strong national presence. We believe, with strong products and a successful customer base, we are well positioned to tap the hitherto untapped SaaS based ERP market in India. We are also witnessing a surge in demand for our Aviation software, globally and are confident of positive growth in the business. Financially, we have continued to have a breakeven quarter and look forward to positive growth in the quarters ahead.”