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NT Bureau
Chennai, Feb 11:

        Ramco Systems Limited, part of the $420 million Ramco group, a global provider of enterprise solutions and services has successfully streamlined its operations to gear up for the emerging global opportunities.

        During the quarter, several initiatives have been kicked-off that include Six-Sigma roll-out, streamlining the global sales pipeline management system, building an eco-system of business partners and strengthening the knowledge management initiatives.

        For the three quarters ending December 2006, the global software revenues grew by a modest 7 per cent and posted revenues of $34.81mn. The solutions business in India posted an impressive growth of 93 per cent compared to the corresponding period last year and clocked revenues of $6.03m. Primary contributors to the software revenue growth were the Indian operations and the global aviation solutions business. Streamlining the operations has resulted in the company trimming its net loss for the 9-month period by 14 per cent to $ 5.09m compared to $5.95m incurred during the corresponding period last fiscal.

        For Q3 2006-07, the company has posted global revenues of $12.71mn with a net loss of $2.84m. Global revenue contribution for Q3 was led by USA and India with a share of 37 per cent and 19 per cent respectively.

        Among the business lines, the software solutions business contributed over 60 per cent, while the IT services practice accounted for 18 per cent of the global revenues.

        The total global revenues of Ramco, including revenues from subsidiaries in USA, Switzerland, Singapore, Malaysia and South Africa stood at $43.10 mn for the 9-month period (April-December 2006) as against $ 41.89 in the corresponding period previous fiscal.

        Commenting on the results, P R Venketrama Raja, vice chairman, managing director and CEO said, 'Ramco is internally transforming itself to leverage the emerging global opportunities. While the company's global revenues have remained steady, several initiatives that are currently underway are expected to have a positive ripple effect on the revenues and profitability over the next few quarters.'