eClerx Services enthralls with strong Q1FY17 and announces buyback plan
eClerx Services’ revenue has increased by 14.08 per cent to Rs 340 crore in Q1FY17 as compared to same period in previous financial year. The company’s EBITDA too has risen by 20.72 per cent to Rs 126 crore in Q1FY17 on a yearly basis. Its EBITDA margin has expanded by 203 basis points to 37.01 per cent in Q1FY17 as compared to same period in previous fiscal. eClerx Services’ net profit also has increased by 27.31 per cent to Rs 95.15 crore in Q1FY17 on a yearly basis. The company’s net profit margin has expanded by 290 basis points to 27.96 per cent in Q1FY17 as compared to same period in previous financial year.
The board of directors of eClerx Services is proposing a buyback of equity shares amounting to Rs 234 crore at minimum price of Rs 2200. The buyback of equity shares process is likely to be completed in Q3FY17.
The share price of eClerx Services has increased by 8.71 per cent on bourses in early trades; and is trading at Rs 1649 on an intraday basis.
eClerx Services provides critical business operation services to more than 30+ global Fortune 500 clients. It has global delivery centres and offices in Verona, Phuket, Mumbai, Pune and Chandigarh plus global client relationship locations in New York, London, Philadelphia, Silicon Valley, Austin, Dublin, Milan, Hamburg and Singapore.