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BLS International registers exponential growth for Q1 FY18 BLS International Services Ltd reports net profit of Rs. 29.06 cr, registers 301% growth in Q1 FY18

Posted by BLS International Posted on : Aug 17, 2017


Consolidated Results
For the Quarter ended June 30th,
2017 (Q1FY18):
  • Total
    Income stood at Rs. 195 crore, up by 57.06% q-o-q
  • EBITDA
    of Rs. 43.3 crore; q-o-q growth of 467.85%
  • Net
    Profit stood at Rs 29.06 crore; q-o-q growth of 301%
  • EPS
    for Q1FY18 stood at Rs. 2.84, as compared to Rs. 0.71 (Adjusted for 10:1
    split) for Q1FY17


New Delhi, August 10, 2017: BLS International Services Limited (BLS), a specialist provider of Visa, Passport, Attestation and Citizen Services to the Governments across the world, declared its financial results today for the first quarter ended June 30th, 2017.

The company reported Net Profit of Rs. 29.06 crore for Q1 FY18, up by 301%, as compared to Rs. 7.25 crore in the corresponding quarter of last fiscal. The company’s Q1 FY18 PAT margin stood at a robust 14.9%, as compared to 5.8% in Q1 FY17.
Total Income for the quarter ended June 2017 stood at Rs. 195.07 crore, up by 57.06%, as compared to Rs 124.20 crore in the same period last year. The company’s earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1 FY18 stood at Rs. 43.27 crore, up 467.85%. Its EBITDA margin improved from 6.15% in Q1 FY17 to 22.18% in Q1 FY18.
Earnings per share (EPS) for the quarter ended Q1 FY18 stood at Rs. 2.84, as compared with Rs. 0.71 (adjusted for 10:1 split) for the quarter ended Q1 FY17.
Commenting on the financial performance of the company Mr. Shikhar Aggarwal, Joint Managing Director, BLS International Services Limited said, “The exponential results have given a good start to Q1 FY18 which eventually translated the efforts of entire team. These results are a reflection of the pace at which the company is growing that is likely to continue for the next quarters as well. We anticipate further expansion of business in this FY18 with new projects in domestic as well as international market. Our endeavour is to be the preferred service provider for all Governments and Diplomatic Missions in India & overseas.”
The increase in the top line is led by Spain project coupled with expanding reach of the company in domestic market with front end and citizen service project. So far, BLS International has opened 118 offices in 43 countries for the Spain project and will be processing 1.8 Million applications in the current financial year.
BLS International recently signed the contract with Islamic Republic of Afghanistan in UAE representing the Afghanistan Mission in UAE, Qatar, Oman, Bahrain and Kuwait. Under this partnership, BLS International will be commencing 8 offices providing consular services through registration of Afghan citizens, etc.
Last year, the Govt. of Punjab entrusted BLS International for a unique front end and citizen service project in sync with the Digital India vision as the company has expertise in providing visa processing services to about 29 Govt. clients across the world. BLS, through its 2,147 Sewa Kendras is providing 82 citizen services in close coordination with more than 17 departments of Punjab government. BLS is also an authorized Service Provider for attestation of documents by the Ministry of External Affairs, India. It also serves the Embassy of the State of Kuwait and High Commission of Malaysia and several others in the field of Visa/Attestation of Documents/ Apostille in India.
BLS is also an authorized Service Provider for attestation of documents by the Ministry of External Affairs, India. It also serves the Embassy of the State of Kuwait and High Commission of Malaysia and several others in the field of Visa/ Attestation of Documents/ Apostille in India.
BLS supports the consular framework with streamlined processes and work flows. It has the necessary skilled human resources and technical capabilities (including complete biometric solutions) and financial capabilities to deliver efficient and optimal outsourcing solutions. Moreover, to ensure highly efficient project management, it assigns dedicated teams of skilled and experienced persons with relevant project management experience for each project.
About BLS International Services Limited
(www.blsinternational.com;
BSE: 540073; NSE: BLS)
BLS International is the world’s largest Indian specialist service provider for outsourcing of visa, passport, consular, attestation and citizen services to the governments and diplomatic missions globally since 2005. From pre-travel information processes, data processing and biometrics capture of applicants to acceptance of crucial travel documents, BLS plays the catalyst in making travelling easy and effortless. BLS has operations in more than 58 countries and is providing services through 2265 offices worldwide.
Globally, BLS International serves client governments via visa & passport application centers across Asia, Africa, Europe, South America, North America and the Middle East for over 29 client governments. BLS International has operations certified ISO 9001:2008 for Quality Management Systems, ISO 270001-2013 for Information Security Management Systems. The company is listed on the National Stock Exchange (NSE), the Bombay Stock Exchange (BSE) and Metropolitan Stock Exchange of India Ltd.
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