Ramco Systems' consolidated net profit surged 19.39% to Rs 16.93 crore on 10.03% increase in net sales to Rs 159.82 crore in Q2 September 2020 over Q1 June 2020.
Profit before tax (PBT) rose 3.24% to Rs 28.98 crore in Q2 September 2020 as against Rs 28.08 crore in Q1 June 2020. Current tax expense for the quarter gained 1.83% to Rs 5 crore as against Rs 4.91 crore paid in Q1 June 2020. The Q2 result was declared post trading hours yesterday, 3 November 2020.
The quarterly order bookings stood at $26.53 million, registering a 24% Q-o-Q (quarter-on-quarter) growth. Five 'Million-Dollar-Plus' deals have been signed during the quarter. The overall borrowings reduced to Rs 49.75 crore in Q2 FY21 from Rs 75 crore in Q1 FY21.
Commenting on the Q2 result, P.R. Venketrama Raja, the chairman of Ramco Systems, has said that: "The thrust we place on building our unique strength around Innovation, depth of offering and delivering customer delight have together helped us carve a niche position in the market. Having established our strong footprint in Asia and Middle East, we are now seeing a sizeable traction and growth coming from U.S and Australia, too. Overall, Q2 witnessed all business units and regions contributing to our growth trajectory. Together with our measures to keep operational efficiency high, we hope to continue this growth momentum in the coming quarters too."
Shares of Ramco Systems was locked in a lower circuit of 5% at Rs 426.85 on BSE.
Ramco Systems is an enterprise software, offering cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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