Sundar Subramanian, CEO of Ramco Systems, will step down from his position effective January 3, 2025. The board has appointed Abinav Raja, son of the company’s founder PR Venkatrama Raja, as managing director. He currently serves as a full-time director.
Subramanian said in a letter to the company: These efforts are tracked through rigorous reviews and their success is measured by clear metrics. Many companies have already seen positive results, such as improved transaction prices and implementation reviews. During this period, we have also secured leading customers in various regions in the HRP, Aviation, ERP and Logistics sectors. ”
Mr. Subramanian joined Ramco in July 2023. Previously, he led delivery and operations for leading multinational information technology services and consulting firms including Mphasis, Cognizant, IBM, and PwC.
The company reported a second-quarter net loss of $1 million, down from $18 million in the year-ago period. This is due to a $14 million charge-off in the second quarter of last year. Revenue was $17 million (approximately $16 million).
Ramco’s share price on NSE fell by 4.90 ₹ (1.15%) to end at 422.40 ₹.
