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Ramco Systems, the Chennai-based software company, for the fourth quarter ended March 31, 2011, reported on a standalone basis a net profit of Rs 11.21 crore from a loss of Rs 1.17 crore in the corresponding period last year. Revenue increased by 88 per cent to Rs 49 crore (Rs 26 crore).
For the full year ended March 31, 2011, the company reported a net profit of Rs 4.77 crore from a loss of Rs 1.09 crore in the previous year. Revenue increased by 45 per cent to Rs 150 crore (Rs 103 crore).
On a consolidated basis, for the year ended March 31, 2011, Ramco had a net profit of Rs 2.31 crore on revenue Rs 214 crore. “To breakeven every quarter, the company requires a business pipeline of $12-13 million. We do have such a business and are comfortably positioned to not only breakeven but also sustain the profitability,” according to Mr Kamesh Ramamoorthy, Chief Operating Officer, Ramco Systems. India operations, including West Asia and Africa, contributed 60 per cent followed by the US with 22 per cent depicting stronger domestic scenario. Ramco added 176 new customers during the year. —
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