eClerx Services hits 52-week high; shares locked in 20% upper circuit on stellar earnings

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The automation and analytics services firm reported a 78 percent rise in its net profit at Rs 98.75 crore in Q4 as against Rs 55.40 crore in the same quarter the previous year.

eClerx Services hits 52-week high; shares locked in 20% upper circuit on stellar earnings
Trading in eClerx Services shares were frozen at the upper end of the 20 percent intraday circuit filter after the company reported strong earnings for the quarter ended March. There were only buyers for the stock at Rs 1617.35, also a 52-week high.
The automation and analytics services firm reported a 78 percent rise in its net profit at Rs 98.75 crore in Q4 as against Rs 55.40 crore in the same quarter the previous year. The profit was led by lower sales and development expenses and higher gross margins. Net sales came in at Rs 329.52 crore in March 2021, up 18.43 percent from Rs. 278.24 crore in year-ago quarter.
It has surged 300 percent return in the last year and 85 percent in 2021 so far.
The firm's EBITDA stood at Rs 123.06 crore in March 2021, up 55.87 percent from Rs 78.95 crore in March 2020.
For the full financial year FY21, the firm's net profit rose 35.21 percent to Rs 282.56 crore, as against Rs 208.98 crore in FY20. Sales during the period also rose 8.83 percent YoY to Rs 1,564.49 crore.
eClerx provides business process management, automation, and analytics services to several Fortune 2000 enterprises, including some of the world's leading financial services, communications, retail, fashion, media & entertainment, manufacturing, travel & leisure, and technology companies.
eClerx is witnessing improving growth in customer care, RPA, analytics, and content development. ICICI Securities is positive on the stock led by improving deal wins and revival in growth. This along with reasonable valuation, healthy balance sheet prompts us to be positive on the stock, it said.

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CompanyPriceChange%Loss
Wipro543.10 -13.45 -2.42
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Kotak Mahindra1,737.25 -19.85 -1.13
TCS3,268.60 -32.60 -0.99
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Kotak Mahindra1,738.10 -21.90 -1.24
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