Ramco Systems inks 7 year deal with Canadian firm

Ramco Systems commenced a 7-year deal with JP Logistics by installing its end-to-end cloud logistics software at its warehouses. Reacting to the development, the stock was buzzing on the bourses on Thursday. 

The Canadian logistics and supply chain leader JP Logistics announced that it will install Ramco Systems’ logistics software kick-starting a digital transformation which will help the company get its foot into the e-commerce space. 

Ramco’s integrated logistics ERP software includes transportation management, warehouse management as well as rating and billing in order to automate invoicing and operations. Ramco Systems is a next-gen enterprise software player with disruptive technologies like multi-tenant cloud and mobile-based enterprise software in HCM and Global Payroll, ERP and M&E MRO for Aviation. 

In Q3FY19, Ramco Systems reported a net loss Rs. 2.97 crore, on a consolidated basis as against a net profit of Rs. 3.56 crore in the Q3FY18 quarter. The consolidated net sales for the company stood at Rs.143.58 crore for Q3FY19, up 14.73 per cent from Rs.125.15 crore in Q3FY18. 

On Thursday, Ramco Systems closed at Rs. 238.20 per share, up 3.82 per cent on the BSE.