Ramco Systems posts 10th consecutive quarterly loss
IT firm Ramco Systems on Thursday reported a net loss of Rs 18.01 crore for the three-month ended March 31, 2007 -- its 10th consecutive quarterly loss.
By PTI |
MUMBAI: IT firm Ramco Systems on Thursday reported a net loss of Rs 18.01 crore for the three-month ended March 31, 2007 -- its 10th consecutive quarterly loss.
The Chennai-headquartered firm had recorded a net loss of Rs 3.82 crore in the same quarter a year ago.
Total income stood at Rs 20.20 crore for January-March quarter from Rs 35.17 crore for the corresponding period in the previous fiscal, Ramco informed the Bombay Stock Exchange.
The company had posted quarterly net profit last in July-September 2004, data available on the BSE show.
Ramco Systems chief executive officer P R Venketrama Raja said the results were not comparable as the company had sold its secure converged networking division to its subsidiary Ramco Infotech Solutions Ltd with effect from April 1, 2006.
The firm declared the results after the markets closed. Its shares ended nearly one per cent down at Rs 135 on BSE.
However, the company's board of directors recommended a final dividend of 50 per cent (Rs 5 per equity share).
Together with the two interim dividends each of 50 per cent paid already during 2006-07, the total dividend for the year ended March 31 stands at 150 per cent.
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