Ramco Systems reports net loss in FY24

(20 second reading) Enterprise software firm Ramco Systems continues to face challenges, with a consolidated net loss of Rs 241 crore in the FY24, increasing from a loss of Rs 206.8 crore in FY23. However, the company’s consolidated net loss narrows on a yearly basis (YoY) at Rs 23 crore in the Q4 quarter, compared to Rs 45 crore in the same period last year.
For the FY24, the consolidated income of Ramco Systems was at Rs 530 crore. Recurring revenue grew at 13% YoY, as compared to 5% last year.
The company signed 11 major deals and an unexecuted order book stands at $18.8 crore. Chairman P R Venketrama Raja said with an uptick in revenue and order bookings, Ramco Systems achieved cash-flow stabilization.