eClerx spikes up on robust Q1

eClerx Services is currently the top gainer on the BSE and this is after hitting a new high at Rs.1776.95. The stock remains firmly in the green, up over 9% with volumes showing a surge of a mind boggling 10.5 times.

The market is thrilled with the company’s Q1FY16 performance. It posted a 20% (QoQ) rise in total revenue at Rs.314 crore with net profit showing a 38% rise at Rs.73 crore. EBITDA came in at Rs.115 crore, up 39% and margin came in at 37% v/s 32% (QoQ). NPM showed a 3% rise at 23%. US$ revenue was up 14% Q-o-Q  with organic constant currency growth of 4%. EPS was up at Rs.24.10, up 37% (QoQ). Other income came in at Rs.6 crore – forex gain of Rs.11 crore and loss of Rs.5 crore due to reassessment of deferred tax assets.