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Ramco Systems Ltd has reported loss of Rs 15 crore for the first quarter ended June 30, 2012. This is compared to a net profit of Rs 0.54 crore for the corresponding quarter previous year.
Revenue, including from subsidiaries in the US, Canada, Switzerland, Singapore, Malaysia, South Africa and Dubai, declined by nearly Rs 10 crore to Rs 47 crore (Rs 57 crore). Total expenditure shot up to Rs 61 crore (Rs 52 crore).
India, including West Asia and Africa, contributed 68 per cent of the revenue followed by Americas with 19 per cent, says a company press release.
Virender Aggarwal, CEO, Ramco Systems, said the next few months would be critical as the company steps up its efforts to go global and focus on strengthening its position on the cloud.
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