BLS International registers net profit of INR 26.76 crore in Q2

BLS International Services Limited (BLS), a specialist services provider of visa, passport, attestation and citizen services to the governments and diplomatic missions across the world, released its financial results for the second quarter ending September 30, 2017.

The company reported net profit of INR 26.79 crore for Q2 FY18, up by 197%, as compared to INR 9.02 crore in the corresponding quarter of last fiscal. The company’s Q2 FY18 PAT margin stood at a robust 14.36%, as compared to 5.9% in Q2 FY17.

Total income for the quarter ended September 2017 stood at INR 186.55 crore, up by 21%, as compared to INR 153.57 crore in the same period last year. The company’s Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) in Q2 FY18 stood at INR 43.34 crore, up by 249% as compared to Q2 FY17 which stood at INR 12.41 crore. Its EBITDA margin improved from 8.08% in Q2 FY17 to 23.23% in Q2 FY18.

Commenting on the financial performance of the company Shikhar Aggarwal, Joint Managing Director, BLS International Services Limited, said, “The performance of Q2 FY18 has been remarkable for us owing to the timely and quality deliverables of our contracts in the domestic and international market. Being the face of government across the globe and providing best-in-class services coupled with remarkable results are a reflection of the pace at which the company is growing that is likely to continue for the next quarter as well. We have set newer benchmarks for service delivery with swift rollouts and excellence in execution of all our contracts with governments and diplomatic missions across the world.”

BLS International has a unique front end and citizen service project – Sewa Kendra in sync with the Digital India vision, which is successfully operating 2147 Sewa Kendras covering 22 districts of Punjab and provides 169 citizen-centric services of the proposed 223 to people working with 22 departments.