India's Eclerx Services jumps on Sept-qtr earnings boost

eClerx Services

10/11/2023 05:10

** Shares of Eclerx Services  ECLE.NS  rise as much as 6.75%
to a near-one month high of 2,195 rupees apiece
    ** The IT consulting and outsourcing company posts 11% Y/Y
rise in revenue from operations to 7.22 bln rupees ($86.69 mln)
in Sept-quarter 
    ** Net profit rises 8% to 1.36 bln rupees
    ** Growth in profitability aided by strong revenue growth
and rupee depreciation, says ECLE
    ** Trading volume is 193,854 shares as of 10:28 a.m. IST,
1.4x the 30-day avg - LSEG data
    ** Of the seven analysts tracking ECLE, four have "strong
buy", two recommend "buy" and one suggests "hold"; median TP is 
1,945 rupees
    ** Including today's gains, ECLE shares up 68% in 2023 so
far


($1 = 83.2875 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))