BLS International Services rallies 10 per cent on posting blockbuster Q1FY22 results
Q1FY22 EBITDA & PBT margins have improved QoQ on the back of an increase in revenue and operational efficiencies, despite an increase of Rs 4 crore in employee expense.
The company’s total operating revenue stood at Rs 182.3 crore as compared to Rs 55.3 crore during Q1FY21, registering a growth of 230 per cent. EBITDA stood at Rs 18.8 crore, increasing by almost five times on a YoY basis. Profit before tax was Rs 20.8 crore for Q1FY22 as compared to Rs 3.9 crore in Q1FY21, registering a growth of 433 per cent YoY. Net profit stood at Rs 20.3 crore for Q1FY22 as compared to a loss of Rs 0.8 crore in Q1FY21.
Q1FY22 EBITDA & PBT margins have improved QoQ on the back of an increase in revenue and operational efficiencies, despite an increase of Rs 4 crore in employee expense.
BLS International has partnered with Singapore-based company- Knowledge Catalyst to provide digital health certificates for passengers travelling to and from Singapore. The company has also partnered with e-commerce giants such as Flipkart to provide last-mile delivery in semi-urban as well as rural areas of India.
The company added that it witnessed consular services vertical, domestic projects in Punjab, and StarFin outperforming the pre-COVID levels in Q1FY22. Aggressive vaccination drives from all the major countries and the opening of US, Europe, Russia, China, UK, and Canada are helping them gain traction.
BLS International Services Limited (BLS), a part of the four-decade-old BLS Group with a global presence & diversified range of services counts amongst the top three global players in visa application outsourcing, with its presence in visa/passport/consular/citizen services with 62 countries & 36 government clients and also, provides services through 2,325 offices worldwide.
The shares of BLS International touched a 52-week high of Rs 154.70 on BSE during the early market hours on July 28, 2021.