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Tuesday, Oct 29, 2002

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Ramco Q2 net loss shoots up

Our Bureau

CHENNAI: Ramco Systems Ltd has reported an increased net loss of Rs 6.16 crore on revenues of Rs 25.46 crore for the quarter ended September 30, 2002, as against a net loss of Rs 2.69 crore on revenues of Rs 30.14 crore for the same period last year.

Total expenditure for the September quarter was Rs 32.50 crore (Rs 34.36 crore). In the total expenditure, selling and marketing expenses dropped to Rs 68.82 lakh (Rs 2 crore). Mr P.R. Venketrama Raja, Vice-Chairman, Managing Director and CEO of Ramco Systems, in a release said, the September quarter witnessed an overall 27 per cent growth over the previous quarter.

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