Ramco Systems posted net loss of Rs 18.02 crore in Q4 March 2007 as against net loss of Rs 3.82 in Q4 March 2006. Sales declined 42.61% to Rs 19.38 crore in Q4 March 2007 (Rs 33.77 crore).
The company posted a loss of Rs 32.20 crore in the year ended March 2007 (FY 2007) as against loss of Rs 34.07 in FY 2006. Sales dipped 33.1% to Rs 78.57 crore in FY 2007 ( Rs 117.47 crore).
On 12 April 2007, Ramco Systems’ board approved to divest its 100% stake in Ramco Infotech Solutions (RITS) to TVS Interconnect Systems (TVSICS), a wholly owned subsidiary of T V Sundaram Iyengar and Sons. The closure of the transaction is subject to satisfactory due diligence, execution of definitive documents and other approvals and regulatory clearances.