Ramco Systems Q3 net loss at Rs.38.677 million

Ramco Systems Ltd has announced the following Unaudited results for the quarter ended December 31, 2006:

The Company has posted a net loss of Rs 38.677 million for the quarter ended December 31, 2006 where as, there was net loss of Rs 36.825 million for the quarter ended December 31, 2005. Total Income is Rs 196.717 million for the quarter ended December 31, 2006 where as the same was at Rs 338.930 million for the quarter ended December 31, 2005.

The Unaudited Global Consolidated Financial Results (under AS 21) for the Quarter ended December 31, 2006 are as follows:

The Group has posted a net loss of US$ 2.84 million for the quarter ended December 31, 2006 where as, there was net loss of US$ 1.89 million for the quarter ended December 31, 2005. Total Income is US$ 12.93 million for the quarter ended December 31, 2006 where as the same was at US$ 13.73 million for the quarter ended December 31, 2005.

Consequent to the sale of Secure Converged Networking (SCN) division of the Company to its wholly owned subsidiary Ramco Infotech Solutions Ltd (RITS), with effect from April 01, 2006, the above results as well as the segment reporting results given below, for the quarter December 31, 2006, reflect the performance of the Company, excluding the SCN division. In view of this, the said results for the previous period / year are not comparable with the figures for the current period / year. However, the unaudited global consolidated results under AS-21 include the results pertaining to the same.

Commenting on the results, Mr. P R Venketrama Raja, Vice Chairman, Managing Director & 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."

Source : Equity Bulls

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