eClerx Services Hit 20% Upper Circuit As Q1 Profit Jumps 30% YoY

Shares in eClerx Services are locked in 20 per cent upper circuit of Rs. 620.50 per share on the BSE on August 13, 2020, a day after the company released its earnings results for the quarter ended June 2020 (Q1FY21).

eClerx Services Hit 20% Upper Circuit As Q1 Profit Jumps 30% YoY

The consolidated net profit at the company came in at Rs. 51.77 crore, up 30.05 percent YoY, as against Q1FY20. Net profit margin for the period under review stood at 15.38%, which is a gain of 4.16 per cent year-on-year.

EBITDA margin stood at 24.19 percent which was up by 5.92 percent YoY. Net revenue came in at Rs. 336.55 crore, while EBITDA was at Rs 81.4 crore in Q1FY21 which was up by 25.62 percent YoY.

Analysts at brokerage firm ICICI Securities anticipate eClerx to see a steady increase in revenue in the near term driven primarily by improved deal wins and stabilisation of CLX revenues.

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