BLS International’s Q1 FY18 witness a boost in profits

BLS International Services Limited (BLS), has declared its financial results for the first quarter that ended on June 30, 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 Amortisation (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, Shikhar Aggarwal, Joint Managing Director, BLS International Services Ltd, 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.