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Informist, Wednesday, Aug. 5, 2026

By Deesha Jadhav

MUMBAI – eClerx Services Ltd. is expected to report strong on-year growth in the net profit for the June quarter driven by robust revenue growth, healthy deal ramp-ups, and continued demand for artificial intelligence-enabled services, according to brokerages tracking the firm.

The company is expected to report a consolidated net profit of INR 1.81 billion for the June quarter, according to the average of estimates from five brokerages. Sequentially the net profit will be down 4% but up 28% on year. The highest estimate for the company's June quarter net profit is INR 2.00 billion from Dolat Capital Market Pvt. Ltd. and the lowest is INR 1.71 billion from Nomura Equity Research.

The company's net sales for the June quarter are expected to be INR 11.74 billion, according to the average of estimates. The net sales are expected to rise 6% sequentially and 26% on year. The highest estimate for the company's net sales is INR 11.96 billion from Kotak Securities Ltd. and the lowest is INR 11.58 billion from Equirus Securities Pvt. Ltd.

eClerx Services is likely to benefit from strong client additions, productivity improvements driven by AI, and a diversified business mix, Dolat Capital said. The employee headcount had increased 3% sequentially during the March quarter, reflecting the continued business expansion, the brokerage added.

Brokerages expect a sequential constant currency revenue growth of around 2.0-3.3% in the June quarter, driven by the ramp-up of deals won in previous quarters. The company's operating profit is likely to soften because of annual salary hikes and continued investments in technology capabilities, although foreign exchange gains and operational efficiencies are expected to partially offset these pressures.  

The information technology sector is expected to report a mixed performance for the June quarter, 360 ONE Capital Market Pvt. Ltd. said. The mid-cap IT companies are expected to outperform their larger peers, supported by stronger deal wins and healthier revenue growth, the brokerage said.

eClerx Services is expected to report earnings before interest, tax, depreciation, and amortisation of between INR 2.65 billion and INR 2.80 billion for the June quarter. The highest estimate for EBITDA is from Emkay Global Financial Services Ltd. and the lowest is from Equirus Securities.

The company's EBITDA margin is seen around 24%, according to two estimates. The company's earnings before interest and tax margin is expected to be around 20%, according to the average of four estimates. The brokerages expect the EBIT margin to decline between 80 and 251 basis points sequentially. The expected decline is mainly due to wage hikes, the depreciation of the rupee, and operating leverage which would be partly offset by investments in technology, Kotak Securities said.  

eClerx Services Ltd. provides business process management,  automation, and analytics services to enterprises operating in retail, travel and leisure, business process management fashion, media, and entertainment industries.

The company will announce its June quarter earnings Wednesday. Investors will closely watch the company's demand, client spending, deal momentum, margin performance, and pace of AI adoption to assess the sustainability of future growth.

At 1330 IST, shares of eClerx Services were traded slightly higher at INR 1,907.20 per share on the National Stock Exchange, down slightly. The stock is up over 24% since the company announced its March quarter results on May 13.

All three research reports available on the company with Informist, have a "buy" recommendation on the stock with an average target price of INR 2,017 per share, around 5% higher than the current market price.

Following are the Apr-Jun earnings estimates for eClerx Services Ltd. from six brokerages in descending order of the estimate of net profit in INR billion:

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Pankaj Aher

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