Bonus Issue: This multibagger company had a fantastic quarter, with year-to-date returns of more than 250 per cent!

It is well-known for setting standards in the areas of visa, passport, e-governance, attestation, biometric, e-visa and retail services.

Following the announcement of strong quarter results and the board's recommendation for the bonus issue, shares of BLS International Services surged more than a per cent on an intraday basis on Monday.  

The company's board of directors recommended a bonus issue of equity shares in the proportion of one new equity share of Re 1 for every one existing equity share of Re 1 held by the company's shareholders as of the record date. The record date will be decided by the company.  

Regarding the financial performance, it reported a significant growth of 87.36 per cent from Rs 190.46 crore in Q2FY22, posting a total revenue of Rs 356.84 crore in Q2FY23. Compared to the same quarter the year before, the net profit for the second quarter of FY23 soared greatly, rising from Rs 27.46 crore to Rs 50.99 crore.  

The stock has skyrocketed over 250 per cent year-to-date and in the last six months; it has delivered almost 100 per cent returns to its shareholders!  

BLS International, a trusted global services partner for governments and citizens, is one of the top three players in this domain globally. It is a preferred partner of embassies and governments worldwide. It is well-known for setting standards in the areas of visa, passport, e-governance, attestation, biometric, e-visa and retail services.    

Keep a close eye on this scrip for the upcoming sessions.