Revenue from operations increased to INR 781.9 crore in Q1FY24-25 vs. INR 684.5 crore in Q1 FY23-24
- In U.S dollar terms, revenue is up 11.1 % on a Y-o-Y basis.
- Net profit improved to INR 111.6 crore in Q1 FY24-25 from INR 106.3 crore in Q1 FY23-24
Mumbai, 14th August 2024: Mumbai-based eClerx Services Ltd. has announced its quarterly financial results for the period ending June 30, 2024. The company reported a sequential and Y-o-Y growth in revenue numbers. The Indian IT / ITES firm continues to build on its strong delivery track record and remains focused on pursuing organic growth opportunities across key international markets.
Key highlights from the consolidated financial results reported for the quarter ended June 30, 2024
eClerx’s USD operating revenue increased to $93.3 million vs. $83.9 million posted in Q1FY2023-24, an increase of 11.1% YoY and 1.5% QoQ. EBITDA stood at INR 187.3 crore for the quarter and grew 7.0% compared to INR 175.0 crore recorded in Q1 of the previous fiscal. EBITDA margin decreased from 25.3% in the corresponding quarter to 23.3 % for the current quarter.
- Profit before tax increased to INR 147.9 crore and grew by 5.2 % Y-o-Y, against INR 140.6 crore in last year. Net Profit in this quarter rose by 5.0 % to INR 111.6 crore.
- Basic earnings per share (EPS) for Q1 FY24-25 has improved to INR 23.1; representing a 4.6 % growth when compared with INR 22.1 clocked in Q1 FY2023-24.
- Total delivery headcount was maintained at a similar level to that in the preceding quarter, expanding to 17,628 at the end of the June quarter.
Commenting on the firm’s performance, Mr. Kapil Jain, Managing Director and Group CEO at eClerx said, “We announced our 4-year strategic roadmap last quarter, and I am pleased to note that the early signs are encouraging. Deal pipeline is strong, we are working on several cross-sell initiatives, and our value proposition continues to resonate with clients. We are confident that our strategy will deliver results in the coming quarters.”
The Mumbai-based firm counts many Fortune 2000 companies amongst its list of clients. The company has also continued with its trend of winning awards and recognition for its product and service innovation, notable examples of which are noted below
