The global consolidated revenues for Chennai-based Ramco Systems have grown by 75 per cent , from $22.52 million last year to $39.44 million during the current year.
The revenues from Indian operations grew to Rs 116.44 crore in the current year from Rs 70.84 crore - a growth of 64.37 per cent.
The operating profit rose to Rs 25.34 crore this year from Rs 14.31 crore in the previous year. The operating profit increased due to higher growth in revenues, due to enhanced productivity, lower growth in administrative, overheads and research & development costs.
According to a company statement, the year, despite being a difficult year for enterprise resource planning (ERP) vendors the world over (owing to Y2K-related issues and the market in general taking a downturn), Ramco Systems' flagship product Ramco e.Applications' revenues grew by 12 per cent.
During the financial year 2000, the company added two new business lines - software consulting projects and services centered on e-business solutions. "These two business lines have shown great promise," aid P R Venketrama Raja, vice-chairman & managing director of Ramco Systems Ltd. The new lines of business contributed over 30 per cent of total global software products and services revenue.
The current year , despite being the first year of Ramco Systems Ltd, saw successful implementation of e-business solutions for more than 10 companies across the globe.
Also during the year, Ramco Systems obtained 50 new customers to take the total number of customers to 156, a company statement said. The domestic operations added close to 20 customers , taking the installed base to 89 for its Ramco e.Applications suite of products.
The Far east operations in Singapore and Malaysia have recorded a growth of over 40 per cent. The Switzerland operations grew by 57 per cent over the previous year. The revenues at the US operations grew by 138 per cent. It was also the first year of operations in UK. In financial year 2000, Ramco entered the markets of Thailand and Philippines in a big way.
During financial year 2000, Ramco raised $40 million by way of private placement of shares to foreign institutional investors (FIIs), said the company statement. Also the de-merger process of Ramco Systems from Ramco Industries Ltd was successfully completed.
