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ICICI Direct Report
eClerx Services Ltd. reported healthy Q2 FY21 revenues, up 7.1% QoQ (in constant currency terms) and 8.1% QoQ in reported terms mainly led by growth in Europe (up 31.8% QoQ).
Ebit margins improved 490 basis points to 24.5% mainly led by higher utilisation, lower work from home cost and general and administrative cost.
Net profit increased 17.8% QoQ to Rs 61 crore. The company declared a dividend of Rs one per share.
The company expects H2 FY21E to be better than H1 FY21.
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