Share price of eClerx Services hit upper circuit of 20% today after the firm reported a 30% rise in Q1 net profit. eClerx Services stock opened with a gain of 3.85% at Rs 537 against previous close of Rs 517 on BSE. Later, the share hit upper circuit of 20% at Rs 620 and trading at the same level in afternoon session.
eClerx Services share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The stock has gained 33.51% in the last 6 days. The small cap stock has gained 20.21% in one year and gained 9% since the beginning of this year.
The share has climbed 29% in one month and risen 32.44% in a week. Total 0.20 lakh shares changed hands amounting to turnover of Rs 1.18 crore on BSE. Market cap of the firm rose to Rs 2,164 crore on BSE.
There were only buyers and no sellers for the stock on bourses. The firm posted a 30 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 51.8 crore against Rs 39.8 crore in the corresponding quarter of the previous fiscal.
Operating revenue for the quarter ended June 30, 2020 fell 5.1 per cent YoY to Rs 336.6 crore against Rs 354.7 crore in the corresponding period last year. In US dollar terms, operating revenue fell 11.9 per cent to $44.8 million as compared to $50.9 million in the corresponding period last year.
Total revenue including other income for the period came in at Rs 348.1 crore, down 4.1 per cent YoY.
eClerx Services Limited is an India-based knowledge and business process outsourcing company. The company provides operational support, data management and analytics solutions to companies, including financial services firms, online retail and distributors, interactive media, luxury brands and entertainment, high tech and industrial manufacturing, travel and leisure and software vendors.
The company provides financial solutions, such as middle office services, back office services, finance and accounting, ancillary services and asset class coverage. It has operations in the United States, the United Kingdom, Europe and Asia Pacific.