Chennai, Nov 2 (PTI) Ramco Systems, an enterprisesoftware provider, as part of plans to expand its overseaspresence would tap United Kingdom and Ireland markets withhuman capital management product, a top official said today.
About 76 per cent of company's revenues contributed frommarkets outside India, with the city-based company havingoffices in seven countries including Singapore, Malaysia,China, Hong Kong and the Philippines.
"We are seeing some green shoots in Europe especially inthe United Kingdom. We will be formally launching a payrollsystem in the UK first and then Ireland..", company CEOVirender Aggarwal told reporters here.
New Zealand and Europe have "shown promise" with ordersgetting booked for human capital management (HCM) software, hesaid.
Stating that the company has been launching"country-specific" payroll products, he said, "Australia hasbeen an established market for us with more than 25customers." "The Philippines, Indonesia and China have emerged as newgrowth markets," he said.
To a query, he said the company's two segments - humancapital management including global payroll system, enterpriseresource planning with logistics business would drive therevenues followed by aviation software.
The company on the occasion also released the financialperformance for the second quarter ending September 30, 2017.
Ramco Systems has registered net profit after tax atRs 64.99 million for the second quarter ending September 30,2017. It had registered a net loss at Rs 10.95 million duringcorresponding quarter of the previous year.
For the half-year period ending September 30, 2017 netprofit after tax stood at Rs 34.97 million as against a netloss at Rs 2.17 million. "The improvements in profits was dueto foreign exchange...", Aggarwal said.
Total income for the July-September 30, 2017 marginallywent up to Rs 1,172.12 million as compared to Rs 1,136.85million registered during year ago period.
For the six-month period ending September 30, 2017 totalincome increased to Rs 2,300.21 million from Rs 2,242.00million registered during same period of last year.
Ramco Systems has over 1,600 employees and has offices in24 destinations globally. PTI VIJSS.
This is unedited, unformatted feed from the Press Trust of India wire.