eClerx Services zooms 20%, nears record high on healthy Q4 results

Shares of eClerx Services were locked in 20 per cent upper circuit at Rs 1,617.35 on the BSE on Friday after the company reported healthy March quarter numbers (Q4FY21) with revenues up 19.3 per cent quarter on quarter (QoQ) in constant currency terms and 19.7 per cent QoQ in reported terms. The stock had hit a record high of Rs 1,775, in August 2016.

Till 09:32 am, a combined 192,000 shares have changed hands, so far, and there were pending buy orders for around 45,000 shares on the NSE and BSE. In comparison, the S&P BSE Sensex was up 0.60 per cent at 52,616 points.

In Q4FY21, the company’s profit after tax grew 39 per cent QoQ at Rs 98.8 crore. EBIT (earnings before interest and tax) margins improved 295 basis points (bps) to 27.6 per cent mainly led by lower sales & development expenses and higher gross margins.