eClerx Services shares fell as much as 12.04% to INR 1,642.65 on the Bombay Stock Exchange (BSE) on Oct. 29, NDTV Profit reported. The company’s results for the September quarter showed higher revenue from operations but a slight annual decline in profit attributable to shareholders.
Revenue from operations reached INR 1,188.66 crore in the quarter ended Sept. 30, up 18.3% from a year earlier. In U.S. dollar terms, operating revenue was $127.7 million, an increase of 10.6%, the company said.
Profit attributable to shareholders was INR 180.39 crore, compared with INR 183.19 crore in the same quarter last year. It rose 9.8% from the June quarter. Total revenue, including other income, increased 17.1% year over year to INR 1,212.6 crore, eClerx said in its results release.
Employee benefits expense grew 21.5% to INR 741.14 crore from INR 610 crore a year earlier, a faster rate than revenue from operations. The results do not establish that the higher expense drove the share-price move. Earlier on Oct. 29, Business Upturn reported that the shares had fallen more than 9% to INR 1,663.50 at 9:23 a.m. IST (3:53 a.m. UTC).
The company said it serves enterprise clients with analytics that use AI, digital operations, automation and business process management. It scheduled an earnings call for Oct. 29 from 4 p.m. to 5 p.m. IST (10:30 a.m. to 11:30 a.m. UTC), with Managing Director and Group CEO Kapil Jain and Chief Financial Officer Srinivasan Nadadhur listed as participants.
