Hot Pursuit     05-Jun-23
Ramco Systems rises after inaugurating subsidiary in Qatar
Ramco Systems rallied 3.29% to Rs 230.85 after the company announced that it has inaugurated its wholly owned subsidiary in Qatar to support digital transformation initiatives across the region.
The company inaugurated its subsidiary office located in Doha, Qatar to support and transform the region's business houses and MNCs in the area of ERP, HR, and payroll.

As one of the fastest growing countries in the Middle East, Qatar presents a wealth of opportunities for Ramco to further strengthen its position as a key enterprise software provider. The expansion into Qatar will enable Ramco to not only better serve its existing clientele, but also empower other local enterprises embrace digital transformation and derive significant business benefits.

Ramco aims to meet the growing demand for its enterprise solutions in the region. These cutting-edge solutions will enable businesses to transform their operations, improve efficiency and elevate their employee experience through a single standardized platform.

Sandesh Bilagi, chief operating officer, Ramco Systems, said, “Qatar is emerging as one of the leading countries in the world in new technology adoption, innovation and digital transformation. The opening of our new office in Qatar is an exciting milestone for Ramco. We believe that our innovative solutions will empower businesses in Qatar and across the region, to achieve their objectives and scale to newer heights.”

Ramco Systems is an enterprise software company, offering multi-tenant cloud and mobile-based enterprise software solutions for HR, Global Payroll, ERP, and M&E MRO for Aviation. The company has over 2000 employees spread across 29 offices worldwide.

The company reported consolidated net loss of Rs 45.57 crore in Q4 FY23 as compared with net loss of Rs 26.38 crore in Q4 FY22.Revenue from operations rose 1.9% year on year to Rs 126.22 crore in Q4 FY23.

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