Ramco Enterprise Platform For Digital Transformation in Malaysia
Ramco Systems has signed up a multi-million-dollar agreement with a leading utilities and infrastructure group with diversified businesses in Malaysia for delivering group-wide Digital Transformation across its ports and logistics operations.
“We cannot disclose the value, but it is sizeable,” said an official of the Chennai-based software company.
With this win, Ramco’s enterprise platform will support in managing more than 50% of all port operations in Malaysia.
With strong presence in ports and logistics segment, this win further positions Ramco as the preferred enterprise digital transformation platform of choice for large enterprises looking at emerging more agile and stronger post the pandemic.
Meanwhile, Ramco’s stock price on the BSE touched the upper circuit during the day at ₹241, which was a 52-week high. The stock price had gained over ₹50 in the last one week — from ₹189.90 on August 17 to an intraday high of ₹241 today. In the last one week, the stock price touched the upper circuit six times.
While filing this report, the stock price was trading at ₹235.30, up by ₹5.75 (2.50 per cent).
Despite the Covid-19 pandemic, Ramco Systems reported the highest ever net profit of ₹14 crore for the first quarter ended June 30, 2020, as against ₹3 crore for the same quarter last year. The performance was due to good wins in aviation and logistics verticals, and operational measures.
Interestingly, the net profit in the first quarter was more than ₹11 crore reported for the entire financial year 2019-20.