eClerx Services soars 9% on decent March quarter results

Markets eClerx Services soars 9% on decent March quarter results {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

Shares of eClerx Services surged almost 9% after it declared decent results for the March quarter (Q4FY23). {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

The company's consolidated net profit rose 11.6% to 132.5 crore for Q4FY23 from 118.7 crore in the year-ago period. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

Its consolidated revenue also jumped 16% YoY to 698 crore versus 601 crore in Q4FY22 but up just 0.9% QoQ. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

However, sequentially, it reported flattish revenue in Q4, up just 0.6% QoQ in dollar terms to 85.6 mn dollars. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

The stock rose as much as 8.9% to its day's high of rupees 1,534. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

It jumped 12% just in May, on the back of March quarter earnings after a 5% gain in April. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

Overall, it has gained 10% in 2023 YTD, however, in the last 1 year, the stock is up just 1.2%. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

In FY23, its net profit increased 17% to 488.8 crore and revenue came in at 2,713.8 crore, up 24%. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

Click here to know more about eClerx Services. Check here for more market related stories. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}