BLS International Services posts healthy numbers

BLS International Services reported consolidated revenue for the quarter at Rs. 202.8 crore , registering 24.6 per cent yoy increase. On a quarter-on-quarter basis, BLS reported 8.7 per cent growth in revenue.

EBITDA for the quarter rose by 35.3 per cent yoy to Rs. 37.99 crore with a corresponding margin expansion of 148 bps. EBITDA margin for the quarter stood at 18.7 per cent . This margin expansion was aided by lower cost of services in proportion to sales.

The PAT for the quarter came in at Rs. 20.6 crore , yoy increase of 23.6 per cent . However, on QoQ basis, the company witnessed 23 per cent decline in its PAT.

BLS is world’s second largest visa, passport and consular outsourcing services provider for governments and their diplomatic missions worldwide, in terms of visa applications processed. They have 12 years of global experience in managing visa and passport issuance related administrative and non-judgmental tasks for their client governments spread across 29 client government with operations in 58 countries as on March 2017. The company’s services and offering include visa processing, consular services, E-Visas, biometric & identify management, verification & attestation.

At 12.33 p.m., the stock of BLS was trading in red at Rs. 204.2 per share, down by 1.5 per cent from previous close of Rs. 207.55 per share on Wednesday.