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
Key developments, initiatives and recognitions
- eClerx’s GenAI360 Platform won the Silver winner for AI Innovation at the 19th Annual 2024 Globee® Award for Technology in a hotly contested category that saw more than 1,700 nominations
- eClerx Services Ltd also won two Gold Asia-Pacific Stevie® Awards for its pioneering approach in human resources management and technological innovation.
