eClerx's Q1 FY11 revenue up 73% at Rs 83.7 cr

Net profit up 147% at Rs 29.3 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 fiscal 2010. eClerx provides data analytics and customized process solutions to global enterprise clients from its offshore delivery centres in India.

Consolidated financial highlights for the quarter ended June 30, 2010

• Operating revenue for the quarter ended June 30, 2010 was Rs 77.1 crore vs Rs 54.4 crore in the corresponding period last year, YoY growth of 42%. In USD terms, operating revenue grew by 47% to USD 16.8 Million as compared to USD 11.4M in the same period last year. Total revenue including other income for the period was Rs 83.7 crore, YoY growth of 73%. 
• Operating profit for the quarter was Rs 26.7 crore, a growth of 37% YoY.
• Profit after tax for the quarter ended June 30, 2010 was Rs 29.3 crore compared with Rs 11.9 crore in the corresponding period in the previous year, a growth of 147% YoY.
• Basic EPS for the quarter ended June 30, 2010 – adjusting for the bonus issue - was Rs 10.3 as compared to Rs 4.2 in the corresponding period last year.
• The total headcount as of June 30, 2010 stands at 3,124 – a growth of 42% YoY.

Commenting on the results, Mr. P.D. Mundhra, Executive Director said “We had a very strong Q1. Revenue and profit grew significantly - by 73% and 147% 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.

Disclaimer: Certain statements made in this release concerning our future growth prospects may be interpreted as forward looking statements, which involve a number of risks and uncertainties that could cause the actual results to differ materially from those in such forward looking statements. Investors are requested to use their discretion in relying on them. We do not undertake to update any forward-looking statements that may be made from time to time.