Shares of eClerx Services have soared to record highs

Shares of eClerx Services Ltd., a mid-sized software company, punched a record high on the markets after its quarterly numbers exceeded street's expectations as the company amalgamated revenues of a recent buyout into its consolidated topline.

eClerx said its first quarter profit rose 38 percent to 73 crore rupees compared with 53 crore rupees in the same quarter a year ago. Sales rose 37 percent to 298 crore rupees during April-June compared with 217 crore rupees in the year ago period.

eClerx jumped 128 rupees, or 8 percent, to 1,724 rupees, a record high on the National Stock Exchange, where 1.75 shares were traded by12:15 pm compared with a 5-day average of 9,500 shares.

eClerx's market capitalisation has risen 41 percent to 5,280 crore rupees over one year as investors bought into mid-sized software companies that have the potential to outrun larger rivals in terms of sales and profit.

Image credit: Indiatimes