eClerx Services Q2 FY27 Results: Consolidated Net Profit ₹181 Crore on Total Income of ₹1,213 Crore
Earnings
IT and business process outsourcing
Blacklitt Research3 min read
eClerx Services (NSE: ECLERX) reported consolidated total income of ₹1,212.65 crore and consolidated net profit of ₹180.60 crore for the quarter ended 30 Sep 2026, it said in a filing on 28 Oct 2026. Standalone total income was ₹827.63 crore and standalone net profit ₹135.18 crore for the same quarter. Consolidated net profit was 1.6% lower than in the year-earlier quarter.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹1,212.65 crore, up 17.1% YoY and 3.6% QoQ
Net profit: ₹180.60 crore, down 1.6% YoY and up 10.0% QoQ
EPS: Basic ₹19.63, against ₹19.50 a year earlier
Other income: ₹23.99 crore, down 21.0% YoY
Standalone
The company on its own, without its subsidiaries
Total income: ₹827.63 crore, up 15.4% YoY and 4.5% QoQ
Net profit: ₹135.18 crore, up 22.8% YoY and 1.8% QoQ
EPS: Basic ₹14.71, against ₹11.72 a year earlier
Other income: ₹15.79 crore, down 39.4% YoY
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,212.65
1,035.22
+17.1%
1,170.22
+3.6%
Revenue from operations
1,188.66
1,004.85
+18.3%
1,152.36
+3.1%
Other income
23.99
30.37
-21.0%
17.86
+34.3%
180.60
183.46
-1.6%
164.24
+10.0%
Profit before tax
236.88
245.00
-3.3%
218.61
+8.4%
Finance costs
15.18
10.80
+40.6%
14.88
+2.0%
Depreciation
49.61
42.50
+16.7%
55.82
-11.1%
Tax expense
56.28
61.54
-8.6%
54.37
+3.5%
Net profit margin
14.89%
17.72%
-2.83 pp
14.04%
+0.86 pp
EPS, basic (₹)
19.63
19.50
+0.7%
17.86
+9.9%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit fell 1.6% to ₹180.60 crore while total income rose 17.1%. Other income is now 2.0% of total income, against a larger share a year earlier.
Costs rose faster than income in the year-earlier comparison. Employee benefits expense rose to ₹741.14 crore in the consolidated statement's quarter column, and finance costs rose 40.6% to ₹15.18 crore. Finance costs are 1.3% of total income this quarter. The filing does not say why employee benefits expense rose or why other income fell.
Against the quarter before, net profit rose 10.0%, faster than total income at 3.6%. Depreciation fell 11.1% to ₹49.61 crore, and tax expense rose 3.5% to ₹56.28 crore. Tax is 23.8% of profit before tax of ₹236.88 crore. The statement shows a deferred tax credit in the quarter, and the filing does not give the reason for it.
Net profit margin was 14.89%, against 17.72% a year earlier.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
827.63
717.35
+15.4%
792.14
+4.5%
Revenue from operations
811.84
691.29
+17.4%
782.11
+3.8%
Other income
15.79
26.06
-39.4%
10.03
+57.4%
135.18
110.11
+22.8%
132.78
+1.8%
Profit before tax
178.54
147.18
+21.3%
177.36
+0.7%
Finance costs
10.47
8.23
+27.1%
10.99
-4.8%
Depreciation
25.36
23.68
+7.1%
28.71
-11.6%
Tax expense
43.37
37.07
+17.0%
44.57
-2.7%
Net profit margin
16.33%
15.35%
+0.98 pp
16.76%
-0.43 pp
EPS, basic (₹)
14.71
11.72
+25.5%
14.43
+1.9%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 22.8% YoY to ₹135.18 crore, faster than total income, which rose 15.4%. Revenue from operations grew 17.4%, while other income fell 39.4% to ₹15.79 crore. Other income is 1.9% of total income this quarter.
Profit before tax rose 21.3% to ₹178.54 crore, and tax expense rose 17.0% to ₹43.37 crore, so tax is 24.3% of profit before tax. Depreciation rose 7.1% YoY, and finance costs rose 27.1% to ₹10.47 crore.
Against the quarter before, standalone net profit rose 1.8%, slower than total income at 4.5%. Standalone net profit margin was 16.33%, up from 15.35% a year earlier.
Consolidated net profit of ₹180.60 crore is ₹45.42 crore higher than standalone net profit of ₹135.18 crore.
Exceptional items are nil in both the standalone and consolidated statements for all periods shown. The review report from Price Waterhouse Chartered Accountants LLP has no qualifications for either statement.
The company operates under a single reportable segment, data management, analytics solutions and process outsourcing services. Per-share figures for the year-earlier quarter are restated for the 47,025,359 bonus equity shares issued in the quarter ended 31 Mar 2026.
Inference
The filing says the Board approved the results on 28 Oct 2026, and the review report carries no qualifications. The company reports a treasury share purchase by its employee welfare trust of ₹1,833.83 million and dividend payments of ₹91.84 million consolidated for the half year.
The filing does not state any dividend for the quarter, and it does not give the reason for the change in consolidated other comprehensive income or for the deferred tax credit in the quarter.
The filing does not give the reason for the rise in employee benefits expense or the fall in other income against the year-earlier quarter, which are the two items a reader would most want explained.
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