eClerx Services soars 9% on decent March quarter results
Shares of eClerx Services surged almost 9% after it declared decent results for the March quarter (Q4FY23).
The company's consolidated net profit rose 11.6% to 132.5 crore for Q4FY23 from 118.7 crore in the year-ago period.
Its consolidated revenue also jumped 16% YoY to 698 crore versus 601 crore in Q4FY22 but up just 0.9% QoQ.
However, sequentially, it reported flattish revenue in Q4, up just 0.6% QoQ in dollar terms to 85.6 mn dollars.
The stock rose as much as 8.9% to its day's high of rupees 1,534.
It jumped 12% just in May, on the back of March quarter earnings after a 5% gain in April.
Overall, it has gained 10% in 2023 YTD, however, in the last 1 year, the stock is up just 1.2%.
In FY23, its net profit increased 17% to 488.8 crore and revenue came in at 2,713.8 crore, up 24%.
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