Industry-focused specialist ITES firm eClerx records 14.8% revenue growth in Q2 FY2024-25

• Revenue from operations rises to INR 831.8 crore in Q2FY24-25 as compared with INR 721.8 crore in Q2 FY23-24

• In U.S dollar terms, revenue increased by 12.8 % on a Y-o-Y basis to $98.8 Million

• Net profit increased from INR 136.0 crore in the year ago period to stand at INR 140.2 crore in Q2 FY24-25

Mumbai-based specialist ITES firm eClerx Services Ltd. has announced its quarterly & half-yearly financial results for the period ending September 30, 2024. The company has recorded sequential and YoY growth in both revenue and profit and further expects to build upon its Q2 FY2024-25 performance in the remainder of the current financial year.

Key highlights from the consolidated financial results reported for the quarter ended September 30, 2024

eClerx’s total revenues increased from INR 735.9 crore in Q2 FY2023-24 to INR 844.7 crore in the quarter ended September 30, 2024. These figures represent a strong 14.8% growth on a YoY basis and 5.2% on a sequential basis. The company reported USD 98.8 million in operating revenue for Q2 FY24-25, which is 12.8 % higher YoY and 6% sequentially.

On the profitability front, EBITDA for Q2 FY24-25 came in at INR 228.8 crore, 22% higher than the INR 187.3 crore reported in Q1.

• Net Profit for Q2 FY24-25 stood at INR 140.2 crore, up 25.7% sequentially and 3.1% YoY.

• Basic earnings per share (EPS) for Q2 FY24-25 has improved to INR 29.66 as compared with INR 28.20 in Q2 FY23-24, a 5.2 % increase on a YoY basis.

• Total delivery headcount expanded to 18,104 in Q2 FY24-25, translating to a 11.6% increase over the same figures for the corresponding period in the previous fiscal.

Commenting on the company’s strong Q2 performance, Mr. Kapil Jain, Managing Director and Group CEO at eClerx said, “This has been an exceptionally strong quarter for us on both top and bottom-line. Total revenues came in at INR 844.7 crore and net profit at INR 140.2 crore, with both metrics showing improvement sequentially as well as on a YoY basis. Our focus for H2 FY25 will remain on leveraging our domain expertise and next-gen technology to deliver superior outcomes for our customers.”

The Mumbai-based firm counts many Fortune 2000 companies amongst its clients. The company continues to win awards for its product and service innovation, notable examples of which are below:

Key developments, initiatives and recognitions

• eClerx has been recognized as a ‘Major Contender’ in the 2024 Everest RPA Products PEAK Matrix® Assessment. This recognition highlights the company’s determination to push boundaries in the realm of automation and technology solutions.

• eClerx won the Bronze in the Best Analytics and BI Solution category at the prestigious E-commerce Germany Awards for Market360 – the company’s AI-powered digital shelf analytics platform that is helping clients strengthen their decision-making and meaningfully expand their e-commerce growth trajectory.

About eClerx Services Ltd:

eClerx provides business process management, automation and analytics services to a number of Fortune 2000 enterprises, including some of the world’s leading financial services, communications, retail, fashion, media & entertainment, manufacturing, travel & leisure and technology companies. Incorporated in 2000, eClerx is today traded on both the Bombay and National Stock Exchanges of India. The firm employs about 18,200 people across Australia, Canada, Germany, India, Italy, Netherlands, Philippines, Singapore, Dubai, Thailand, UK and the USA. For more information, visit www.eclerx.com.