PremiumMUMBAI : Shares of Ramco Systems jumped 4.60% on Thursday after the company announced that it will implement its aviation software, Ramco Aviation M&E MRO Software V5.8, at Iraq's national carrier, Iraqi Airways Company.
At 12.45 pm, Ramco Systems was trading at ₹571.85 up 2.56% from its previous close, while the benchmark index, Sensex gained 0.12% to 51,080.25.
Iraqi Airways Company, operating as Iraqi Airways, is the national carrier of Iraq, headquartered on the grounds of Baghdad International Airport in Baghdad. It is the second oldest airline in the Middle East. Iraqi Airways operates from its main base in Baghdad International Airport.
Ramco will implement its complete aviation software, including modules for engineering and continuing airworthiness management organization; maintenance; materials management; and monitoring and evaluation (M&E) of quality and safety. The cloud-based software will automate the operations of the Iraqi national carrier, manage complete records of its aircraft and enable the airway’s staff to manage their operations and receive alerts on the go through its mobility module, providing greater flexibility, optimized aircraft availability and reduced friction.
“Ramco to partner with Iraqi Airways to digitally transform their business. Infused with artificial intelligence and machine learning capabilities, our Aviation ERP (enterprise resource planning) has gained the trust of leading operators in the industry. We look forward to working with Iraqi Airways to reduce inefficiencies and future-proof their operations through our innovative features." said Virender Aggarwal, chief executive officer, Ramco Systems.
Ramco Aviation Software will also be integrated with enhanced inventory tracking and stock visibility capabilities, enabling better resource management, unified employee records, and control operations end to end, on a single platform.
On a consolidated basis, Ramco Systems reported a net profit of ₹7.36 crore in the quarter ended March 2021 as against net loss of ₹5.85 crore during the previous quarter ended March 2020. Sales rose 12.79% to ₹149.86 crore in the quarter ended March 2021 as against ₹132.87 crore during the previous quarter ended March 2020.
Ramco is a next-generation enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HR and global payroll, ERP and M&E of maintenance, repair and operations for aviation.
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