Share price of an industry-focused specialist services firm managing and improving complex data-driven processes, fell by 6.22 percent on BSE to hit an intraday low at Rs. 2,253.7 in the trading session of Friday, after reporting a fall in net profit by 7.2 percent QoQ and 2.5 percent YoY.
With a market capitalisation of Rs. 11,153.3 crore, the shares of Eclerx Services Limited closed in the red at Rs. 2,275, down by 5.33 percent.
The fluctuations in the share prices were observed after the company announced the financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges on Thursday post-market hours.
The consolidated revenue from operations climbed by 10.6 percent YoY from Rs. 693 crore in Q4 FY22-23 to Rs. 766.53 crore in Q4 FY23-24, and grew by 2 percent QoQ from Rs. 752.8 crore in Q3 FY23-24 to Rs. 766.53 crore in Q4 FY23-24.
Eclerx Services’ net profit for Q4 FY23-24 stood at Rs. 129 crore, down by 2.5 percent YoY from Rs. 132.35 crore in Q4 FY22-23, and 7.2 percent QoQ from Rs. 139 crore in Q3 FY23-24.
On a quarter-on-quarter basis, the Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA dropped from Rs. 228 crore in Q3 FY23-24 to Rs. 218.6 crore in Q4 FY23-24, a 4.12 percent decline.
While the net operating cash flow in FY23-24 was Rs. 526 crore as compared to Rs. 505 crore in FY22-23, the Total Cash and Cash Equivalents for FY23-24 stood at Rs. 1,084 crore as against Rs. 656.3 crore for FY22–23.
For FY23-24, the Basic Earnings Per Share (EPS) was Rs. 106.15, up from Rs. 98.76 in the previous year. The current book value per share for FY23-24 stood at Rs. 466, as against Rs. 357 in FY22-23.
As of March 31, 2024, there were 17,231 total delivery headcounts, a 7.6 percent YoY growth.
Further, the company’s Board approved the buyback of 13.75 lakh equity shares through a ‘tender offer’ route for an amount not more than Rs. 385 crores at a price of Rs. 2,800 apiece. This is the company’s sixth share buyback in the past eight years.
The Board also approved a final dividend of Rs. 1 per share, subject to the approval of shareholders.
The stock has delivered 68.5 percent of positive returns in one year, while it has given negative returns of 5.8 percent in the last six months.
eClerx Services Limited offers business process management, automation and analytics services to several Fortune 2000 enterprises, including some of the world’s leading financial services, retail, fashion, media & entertainment, manufacturing, and technology companies.
Incorporated in 2000, the company provides intelligent operations and insights to the world’s largest enterprises, as well as core business process solutions and data analytics through its worldwide delivery centres.
Written by Shivani Singh
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