Ramco Systems to tap United Kingdom, Ireland markets: CEO
Ramco Systems, an enterprise software provider, as part of plans to expand its overseas presence would tap United Kingdom and Ireland markets with human capital management product, a top official said today.
About 76 per cent of company's revenues contributed from markets outside India, with the city-based company having offices in seven countries including Singapore, Malaysia, China, Hong Kong and the Philippines.
"We are seeing some green shoots in Europe especially in the United Kingdom. We will be formally launching a payroll system in the UK first and then Ireland..", company CEO Virender Aggarwal told reporters here.
New Zealand and Europe have "shown promise" with orders getting booked for human capital management (HCM) software, he said.
Stating that the company has been launching "country-specific" payroll products, he said, "Australia has been an established market for us with more than 25 customers."
"The Philippines, Indonesia and China have emerged as new growth markets," he said.
To a query, he said the company's two segments - human capital management including global payroll system, enterprise resource planning with logistics business would drive the revenues followed by aviation software.
The company on the occasion also released the financial performance for the second quarter ending September 30, 2017.
Ramco Systems has registered net profit after tax at Rs 64.99 million for the second quarter ending September 30, 2017. It had registered a net loss at Rs 10.95 million during corresponding quarter of the previous year.
For the half-year period ending September 30, 2017 net profit after tax stood at Rs 34.97 million as against a net loss at Rs 2.17 million. "The improvements in profits was due to foreign exchange...", Aggarwal said.
Total income for the July-September 30, 2017 marginally went up to Rs 1,172.12 million as compared to Rs 1,136.85 million registered during year ago period.
For the six-month period ending September 30, 2017 total income increased to Rs 2,300.21 million from Rs 2,242.00 million registered during same period of last year.
Ramco Systems has over 1,600 employees and has offices in 24 destinations globally.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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