eClerx Services Limited reported unaudited consolidated and standalone earnings results for the second quarter and half year ended September 30, 2017. For the quarter, on consolidated basis, the company reported total income of INR 3,443.21 million against INR 3,383.43 million a year ago. Profit before exceptional items and tax was INR 975.17 million against INR 1,189.15 million a year ago. Profit before tax was INR 1,179.00 million against INR 1,189.15 million a year ago. Net profit for the period was INR 884.84 million against INR 971.52 million a year ago. Earnings per share diluted were INR 22.23 against INR 23.49 a year ago. EBITDA was INR 1,298 million. More specifically for second quarter 2017, the operating cash flow generation was highest ever that eClerx has seen. While the company has booked capex of around INR 65 million in second quarter of 2017.

For the six months, on consolidated basis, on consolidated basis, the company reported total income of INR 6,874.16 million against INR 6,886.82 million a year ago. Profit before exceptional items and tax was INR 1,952.40 million against INR 2,429.08 million a year ago. Profit before tax was INR 2,156.23 million against INR 2,429.08 million a year ago. Net profit for the period was INR 1,677.20 million against INR 1,930.63 million a year ago. Earnings per share diluted were INR 42.11 against INR 46.69 a year ago. EBITDA was INR 2,324 million. First half 2017 net operating cash flow stood at INR 1.77 billion and has improved by INR 109 million year on year primarily due to SEIS incentives received in first half.

For the quarter, on standalone basis, the company reported total income of INR 2,948.34 million against INR 2,960.29 million a year ago. Profit before exceptional items and tax was INR 956.84 million against INR 1,134.01 million a year ago. Profit before tax was INR 1,160.67 million against INR 1,054.72 million a year ago. Net profit for the period was INR 864.72 million against INR 866.30 million a year ago. Earnings per share diluted were INR 21.60 against INR 20.95 a year ago.

For the six months, on standalone basis, the company reported total income of INR 5,935.39 million against INR 6,042.06 million a year ago. Profit before exceptional items and tax was INR 1,860.42 million against INR 2,298.26 million a year ago. Profit before tax was INR 2,064.25 million against INR 2,218.97 million a year ago. Net profit for the period was INR 1,590.92 million against INR 1,780.81 million a year ago. Earnings per share diluted were INR 39.76 against INR 43.07 a year ago.

The company expects second half of fiscal 2018 capex to be very similar to first half. The company expects that both USD revenues and OPM pool will improve in second half compared to first half. Based on hedges book till now, the company expects that INR 61 million of these inflows will convert into operating revenue at INR 70.5 to $1 during second half.

The company expects fiscal year 2018 tax rates to be in the range of 23% to 25%.