eClerx Services shares experienced significant selling pressure, declining over 10% to ₹1,668.2 following the release of Q2 FY27 results. According to latest market data, the stock was trading 10% lower as of the latest session, reflecting continued investor disappointment with the company's quarterly performance metrics. The stock has fallen 29.1% over the last year from ₹2,353.9 to ₹1,668.2, significantly underperforming the BSE IT index which declined 14.6% during the same period. The company's performance contrasts with other IT sector stocks, as Birlasoft gained 7.8% and TANLA SOLUTIONS rose 3.2% among the top gainers in the IT index today.
The company reported consolidated net profit of ₹164.2 million in Q2 FY27, representing a 16% year-on-year growth from ₹141.6 million in the corresponding quarter of the previous year. However, on a sequential basis, net profit showed improvement, rising 9.8% from ₹164.34 crore in Q1 FY27. Revenue from operations demonstrated stronger growth, increasing 23.3% year-on-year to ₹11,524 million from ₹9,346 million in Q2 FY26, while also growing 3.2% quarter-on-quarter from ₹11,523.6 million. For the full year FY26, the company reported net profit of ₹7,065 million, representing a 30.5% increase from ₹5,413 million in FY25, with revenue growing 22.3% to ₹41,170 million during FY26.
EBITDA rose 5% to ₹283.8 crore from ₹270.2 crore in the year-ago period, though the EBITDA margin narrowed to 23.9% from 26.91% year-on-year. According to the company's results, USD revenue reached $127.7 million, showing a 1.5% quarter-on-quarter increase. The company also reported headcount increases in the BFSI sector, indicating business expansion despite margin pressures. On a sequential basis, EBITDA increased 5% to ₹283.8 crore from ₹270.2 crore in Q1 FY27, while total expenses rose 2.5% to ₹975.77 crore from ₹951.61 crore in the preceding quarter.
As reported by NDTV Profit, Dolat Capital noted that while BFSI sector returned to modest sequential growth and headcount increased, lower ACV and higher attrition remain key monitorables. The brokerage maintained a constructive view on eClerx Services despite the mixed quarterly results. The company's revenue growth and margin recovery were below analysts' estimates, contributing to the negative market reaction and investor concerns about operational efficiency. The company's business process management and data analytics services continue to serve clients across industries through technology-led solutions and specialized process management. With a current Price to Earnings ratio of 21.5 based on rolling 12-month earnings, the stock trades at a premium to its historical averages despite recent performance challenges.
