eClerx Services Closed 20% Upper Circuit After March Quarter Earnings

Shares of Mumbai-based information technology consulting and outsourcing firm eClerx Services were closed 20 per cent in the upper circuit at a record high of Rs 1,617 after the market hours earnings announcement on Thursday. eClerx Services’ consolidated net profit for the quarter ended March 2021 rose 78 per cent to Rs 98.75 crore as compared to Rs 55.39 crore during the same quarter last year. Its revenue from operations grew 35 per cent to Rs 473 crore from Rs 351 crore in the year-ago period.

The company said in an exchange filing that eClerx Services revenue in stablecoin terms grew 31.8 percent, with a sequential growth of 19.3 percent.

For the financial year 2021, operating revenue stood at Rs 1,564.5 crore, up from Rs 1,437.6 crore in the previous financial year. Profit grew 35.2 per cent year-on-year to Rs 282.6 crore in FY21.

The company took normal increment and declared dividend of Re.1 per share.

eClerx empowers the world’s largest enterprises with intelligent operations and insights, providing core business process solutions and data analytics from its global distribution centers.

As of 1:21 pm, eClerx Services shares were closed 20 per cent in the upper circuit with pending buy orders of 12,960 shares.

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