ECLERX SERVICES Announces Quarterly Results (2QFY21); Net Profit Up 40.6%

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ECLERX SERVICES Announces Quarterly Results (2QFY21); Net Profit Up 40.6%
Fri, 6 Nov

ECLERX SERVICES has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

ECLERX SERVICES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m3,5653,3663,6087.2%1.2%
Other incomeRs m8613557-57.8%-34.0%
TurnoverRs m3,6513,5003,6654.7%0.4%
ExpensesRs m2,7842,5522,5871.4%-7.1%
Gross profitRs m7818141,02025.4%30.7%
DepreciationRs m17717319613.4%11.2%
InterestRs m4749490.3%4.2%
Profit before taxRs m64372683214.5%29.4%
TaxRs m2062092174.0%5.5%
Profit after taxRs m43751861518.7%40.6%
Gross profit margin%21.924.228.3
Effective tax rate%32.028.726.1
Net profit margin%12.014.816.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 1.2% on a year-on-year (YoY) basis. The expenses were down by 7.1% YoY during the same period.
  • The company's operating profit increased by 30.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 28.3% in 2QFY21 as against 21.9% in 2QFY20.
  • Depreciation charges increased by 11.2% and finance costs increased by 4.2% YoY, respectively.
  • Other income declined by 34.0% YoY during the quarter.
  • Net profit for the quarter increased by 40.6% YoY. Net profit margins during the quarter increased from 12.0% in 2QFY20 to 16.8% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.4% QoQ during the same period.
  • The company's operating profit increased by 25.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 28.3% in 2QFY21 as against 24.2% in 1QFY20.
  • Net profit for the quarter increased by 18.7% QoQ, while net profit margins increased from 14.8% in 1QFY20 to 16.8% in 2QFY21.

To see how ECLERX SERVICES has performed over the last eight quarters,please visit here.

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ECLERX SERVICES Share Price Performance

Over the last one year, ECLERX SERVICES share price has moved up from Rs 437.2 to Rs 722.1, registering a Gain of Rs 284.9 or around 65.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 21,526.8 (down 0.1%). Over the last one year it has moved up from 15,409.6 to 21,526.8, a gain of 6,117 points (up 39.7%).

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 722.1, the price to earnings (P/E) ratio of ECLERX SERVICES stands at 12.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.4 times.

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Related Views on News

ECLERX SERVICES Announces Quarterly Results (3QFY21); Net Profit Up 1.6% (Quarterly Result Update)

Jan 29, 2021 | Updated on Jan 29, 2021

For the quarter ended December 2020, ECLERX SERVICES has posted a net profit of Rs 712 m (up 1.6% YoY). Sales on the other hand came in at Rs 4 bn (up 5.0% YoY). Read on for a complete analysis of ECLERX SERVICES's quarterly results.

ECLERX SERVICES Announces Quarterly Results (4QFY20); Net Profit Down 6.6% (Quarterly Result Update)

Jun 10, 2020 | Updated on Jun 10, 2020

For the quarter ended March 2020, ECLERX SERVICES has posted a net profit of Rs 554 m (down 6.6% YoY). Sales on the other hand came in at Rs 4 bn (down 3.9% YoY). Read on for a complete analysis of ECLERX SERVICES's quarterly results.

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