Ramco Systems jumps 4% post Q4 numbers

NEW DELHI: Shares of software firm Ramco Systems jumped 4 per cent on Thursday after the company said its consolidated net profit for March quarter rose to Rs 8 crore from Rs 7 crore in the same quarter last year.

Following the announcement, the scrip surged 3.88 per cent to hit a high of Rs 346.75 in the morning trade on Thursday, eventually closing at Rs 345, up 1.65 per cent on BSE.

The company said total income for the quarter stood at Rs 121.6 crore compared with Rs 121.3 crore reported for the same quarter a year ago.

On a yearly basis, total income rose to Rs 459.3 crore in FY17 from Rs 443.4 crore last year.

Net profit for the year declined over 55 per cent to Rs 10.8 crore from Rs 24.1 crore last year.

The company said its profitability was hurt by currency fluctuations and change in Indian accounting standards.