eClerx jumps advances 54% in seven days

eClerx Services jumped 14.85% to Rs 713.85, extending its winning streak to seventh consecutive trading session.

Aug 14, 2020 11:08 IST capital market

The stock has soared nearly 54% in seven days from its previous closing low of Rs 464.75 on 5 August 2020.

The company posted stellar Q1 numbers after market hours on 12 August 2020. On a consolidated basis, eClerx reported a 6.5% drop in net profit to Rs 51.8 crore on a 4% fall in revenue from operations to Rs 336.55 crore in Q1 June 2020 over Q4 March 2020.

Consolidated EBITDA rose 0.4% quarter on quarter to Rs 94.9 crore in Q1 June 2020. EBITDA margin improved by 160 basis points to 27.2% in Q1 June 2020 over Q4 March 2020. The company said margin percentage was maintained at FY20 levels through cost management. The company further added that margins may remain volatile due to wage hikes in Q2 & Q3 and return to office costs.

The companys attrition rate dropped to 16.1% in Q1 June 2020 from 31.3% in Q4 March 2020 and 40.8% in Q1 June 2019.

eClerx provides critical business operations services to financial services firms, online retail and distributors, interactive media, luxury brands and entertainment, high tech and industrial manufacturing, travel and leisure, and software vendors through operational support, data management and analytics solutions.

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