BLS International Services gains 4.24 per cent after stellar Q3 results

During Q3 FY22, the company received a full and final settlement with the Punjab government for the old contract, with this old Punjab contract receivables of Rs 67 crore are completely settled in the books.

BLS International, a trusted global tech-enabled services partner for governments and citizens, recently released the consolidated financial results for the third quarter and nine month ended December 31, 2021.

Highlights for the quarter comparative from October to December FY22 versus FY21:

• Operational Revenue stood at Rs 227.1 crores in Q3FY22, up by 51 per cent from Rs 150.4 crores in Q3FY21. 
• EBITDA stood at Rs 25.5 crores in Q3FY22, up from Rs 13.3 crores in Q3FY21. 
• PBT is Rs 27.4crores (excluding exceptional items) in Q3FY22 compared to Rs 14.5 crores in Q3FY21. 
• Profit After Tax (PAT) for the quarter ended December 31, 2021 is Rs 28.3crores compared to Rs 14.3 crores in the same period of last financial year. 
• Total debt as on December 31, 2021 stood at nil, with cash and bank balance of Rs 371.8 crores
  
  Updates during the quarter are as follows:
  
  Expansion & New Centers: BLS International renewed contract with Royal Thai Embassy for visa services. The company also signs contract with the Embassy of India in Kuwait for consular, passport & visa services. 
  
  Other Businesses: BLS International’s Starfin empanelled by Punjab National Bank & Central Bank of India for corporate business correspondent.
  
  Punjab Old Contract: During Q3 FY22, the company received a full and final settlement with the Punjab government for the old contract, with this old Punjab contract receivables of Rs 67 crore are completely settled in the books. 
  
  To quote Shikhar Aggarwal, Joint Managing Director of BLS International from a press release filed with the exchange, “As the economies are opening up, we are seeing good pickup in travel. Though the last few months were impacted by the Omicron variant, we are hopeful of things looking up from here. With some good contracts won during Covid times, we are optimistic that they will start to perform full-fledged from now onwards and optimize our top line and bottom line.”
  
  BLS International Services Limited (“BLS International”), is a trusted global tech-enabled services partner for governments and citizens, having an impeccable reputation for setting benchmarks in the domain of visa, passport, consular, citizen, e-governance, attestation, biometric, e-visa and retail services since 2005. The company works with over 46 client governments including Diplomatic Missions, Embassies & Consulates and leverages technology and processes that ensure data security. The company now has an extensive network of more than 12,287 centers globally with a robust strength of over 15,000 employees and associates that provide consular, biometric and citizen services. BLS has processed over 52 million applications till date globally.
  
  Shares of BLS International Services jumped 4.24 per cent during early market hours recording an intra-day high of Rs 263.95 on NSE, on Thursday, February 3, 2022.