eClerx Services share price slumped over 12% on Thursday after the company reported its Q2 results. The stock declined as much as 12.04% to Rs 1,642.65 piece on the BSE.
The company reported consolidated net profit of Rs 180.39 crore in the second quarter of FY27, registering a fall of 1.5% from Rs 183.19 crore in the corresponding quarter last year. On a sequential basis, net profit rose 10% from Rs 164.2 crore in the previous quarter.
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Revenue from operations in Q2FY27 increased 18.3% to Rs 1,188.66 crore from Rs 1,004.85 crore a year earlier. Revenue rose 3.2% from 1,152.3 crore, quarter-on-quarter (QoQ). eClerx reported USD revenue of $127.7 million, up 1.5% QoQ.
At the operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) rose 5% to Rs 283.8 crore from Rs 270.2 crore, while the EBITDA margin narrowed to 23.9% from 26.91%, YoY: eClerx reported USD revenue of $127.7mn, up 1.5% QoQ.
eClerx Services' Q2FY27 revenue growth and margin recovery were below analysts' estimates.
Dolat Capital noted that BFSI returned to modest sequential growth and headcount increased, but lower ACV and higher attrition remain key monitorables. It maintained a constructive view on eClerx Services.
eClerx Services share price has fallen over 6% in one month and has dropped more than 15 in three months. The stock has declined 28% in one year but has rallied 70% in three years. Over the past five years, eClerx Services share price has delivered a 127% returns.
Technical Outlook
eClerx Services share price had breached its important 200 DEMA support with higher volumes hinting at a bearish trend, noted Ruchit Jain, Head - Equity Technical Research, Wealth Management, Motilal Oswal Financial Services.
He advises traders to avoid bottom fishing until any trend reversal signs seen.
“The next major support for the eClerx Services stock is placed around Rs 1,470,” Jain added.
At 11:00 AM, eClerx Services share price was trading 11.17% lower at Rs 1,659.00 apiece on the BSE.
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