ICICI Securities Ltd | Retail Equity Research eClerx reported Q2FY18 earnings, where US$ revenues were above our estimates while margins were way below our expectations US$ revenue fell 0.8% QoQ to $48.4 million and was above our $47.1 million estimate. Constant currency revenues declined 1.8% QoQ Revenues in rupees declined 0.7% QoQ at | 330.9 crore and was above our | 319.2 crore estimate At 28.8%, EBITDA margins declined ~130 bps QoQ and were much...