eClerx Services spurts on good Q1 outcome

eClerx Services rose 9.51% to Rs 1,738.20 at 9:58 IST on BSE after consolidated net profit rose 37.72% to Rs 73.24 crore on 18.70% increase in net sales to Rs 298.29 crore in Q1 June 2015 over Q4 March 2015.

The result was announced at the fag end of the trading session yesterday, 10 August 2015. Shares of eClerx Services jumped 5.05% to Rs 1,590.75 on that day.

Meanwhile, the BSE Sensex was up 13.77 points, or 0.05%, to 28,115.49.

On BSE, so far 17,000 shares were traded in the counter, compared with an average volume of 1,794 shares in the past one quarter.

The stock hit a high of Rs 1,775 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 1,640 so far during the day. The stock hit a 52-week low of Rs 1,172.30 on 10 December 2014.

The stock had outperformed the market over the past one month till 10 August 2015, rising 8.09% compared with 1.59% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 1.43% as against Sensex's 3.68% rise.

The mid-cap company has an equity capital of Rs 30.44 crore. Face value per share is Rs 10.

eClerx Services' consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) rose 39% to Rs 115.20 crore in Q1 June 2015 over Q4 March 2015.

The company acquired the entire shareholding of CLX Europe S.P.A a joint stock company based in Italy effective 22 April 2015 through its overseas subsidiary eClerx Investment (UK) for a consideration of 175.73 lakh euros. Accordingly, the consolidated financial results for the quarter ended 30 June 2015 also include the results of CLX Europe S.P.A for the period post acquisition and hence results are not comparative to that extent.

eClerx Services announced after trading session yesterday, 10 August 2015, that its board accorded enabling approval for investment(s) upto Rs 2 crore under company's employee initiatives towards talent and entrepreneurship encouragement, entailing intercorporate investment(s), inter alia, into the equity capital of investee company(ies).

eClerx Services is a leading knowledge process outsourcing (KPO) company providing middle/back office operations support to over 30 Fortune 500 companies. Its five delivery centers across India support a diverse global client base, including the world's leading financial services, broadband, cable & telecom, ecommerce & retail, high tech, industrial manufacturing & distribution, software, media & entertainment and travel companies.

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