Ramco Systems share price hit 5% upper circuit after the company signed an agreement with CHI Aviation to deliver the full suite of Aviation Software, comprising of Maintenance & Engineering, Supply Chain, MRO Sales, Flight Operations, Manufacturing, and Finance.
Following the signing of agreement, Ramco Aviation Suite now maintains the largest numbers of civilian version of CH-47s Helicopters (Chinooks).
This is the third agreement Ramco signed in recent months.
Last week, it won an order from European dairy company, Arla, for modernizing and transforming its multi-country payroll operation.
Arla Foods is World’s largest producer of organic dairy products and global top 10 dairy company. It will implement Ramco Global Payroll & HR software to streamline multi-country payroll and time & attendance operations across 5 Middle East countries on a single platform.
On August 25, the company signed a multi-million dollar agreement with a Malaysian company. The exchange filing of the company further said that the Ramco’s enterprise platform will support in managing more than 50% of all port operations in Malaysia.
The Chennai-based software company in the quarter ended June 30 reported net profit at Rs 14 crore as against Rs 3 crore in the same period last year.
The quarterly order bookings surged 63% over the previous quarter to $21.37 million after it acquired four ‘million-dollar plus’ deals.
Ramco Systems is an enterprise software, offering cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.
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