eClerx’s H1 FY11 revenue up 61% at Rs 169.8 cr

Net profit up 103% at Rs 56.9 cr

eClerx Services Ltd. (eCx), India’s first publicly-listed KPO and a Forbes “200 Best Under a Billion” company, today announced its results for first half of fiscal 2011. eClerx provides data analytics and customized process solutions to global enterprise clients from its offshore delivery centres in India.

Consolidated financial highlights for the half year ended September 30, 2010

• Operating revenue for the half year ended September 30, 2010 was Rs 159.4 crore vs Rs 116.7 crore in the corresponding period last year, YoY growth of 37%. In USD terms, operating revenue grew by 43% to USD 34.8 Million as compared to USD 24.3Million in the same period last year. Total revenue including other income for the period was Rs 169.8 crore, YoY growth of 61%.
• Operating profit for the period are Rs 54.2 crore, a growth of 26% YoY.
• Profit after tax for the half year ended September 30, 2010 was Rs 56.9 crore compared with Rs 28.0 crore in the corresponding period in the previous year, a growth of 103% YoY.
• Basic EPS for the half year ended September 30, 2010 – adjusting for the bonus issue - was Rs 19.9 as compared to Rs 9.9 in the corresponding period last year.
• The total headcount as of September 30, 2010 stands at 3,331 – a growth of 42% YoY.

Commenting on the results, Mr. P.D. Mundhra, Executive Director said “We had a very strong H1 FY 11. Revenue and profit grew significantly - by 61% and 103% respectively.  I am also happy to say that new SEZ facility that we took on lease in Q4 FY 10 has now been commissioned and this facility will be critical to supporting our medium term growth needs”

About eClerx Services Ltd:
We provide data analytics and customized process solutions to global enterprise clients from our offshore delivery centers in India. Our portfolio of services comprises data analytics, operations management, data audits, metrics management and reporting services. We provide service solutions using a mix of custom designed data processes, delivery teams comprising generalists and domain specialists, and in-house software to automate processes. We currently offer our services to clients in the financial services, retail and manufacturing industries. Some of our largest clients in terms of revenue contribution include leading global corporations with whom we have multi-year partnerships.