Q2 FY27 revenue rises 10.6%, margin reaches 23.9%, deal wins slow
ECLERX · price
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On the reaction day the stock moved 3.4 pts less than Nifty Smallcap 250 and 2.3 pts less than its Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 FY27 revenue rose 10.6% year on year to USD 127.7 million. EBITDA margin improved 90 basis points sequentially to 23.9%, and profit after tax was INR 1,804 million. New deal wins fell to USD 31 million from USD 41 million; first-half wins were USD 72 million. Management kept full-year EBITDA margin guidance at 24% to 28% despite cost pressure. Clients take longer to decide and start with smaller AI pilots, though the pipeline remains healthy.
Revenue and margin gains support sentiment, but slower deal wins, delayed decisions and higher H2 costs may limit earnings and stock upside.