BLS International Services posts revenue of Rs253 crore for Q4FY22, growth of 75.5% yoy; Stock surges 2.5%

9 May 2022 , 09:16 AM

BLS International, a trusted global tech-enabled services partner for governments and citizens, has released the consolidated financial results for the fourth quarter and full year ended March 31, 2022.

For the quarter comparative from January to March FY22 viz FY21:

• Operational Revenue stood at Rs253.8 crore in Q4 FY22, up by 75.5% from Rs144.6 crore in Q4 FY21
• EBITDA stood at Rs35.0 crore in Q4 FY22, up from Rs10.1 crore in Q4 FY21
• PBT is Rs37.3 crore in Q4 FY22 compared to Rs15.6 crore in Q4 FY21
• Profit After Tax (PAT) for the quarter ended March 31, 2022 is Rs35.2 crore compared to Rs23.0 crore in the same period of last financial year

For the full year comparative from April to March FY22 viz FY21:

• Operational Revenue stood at Rs849.9 crore in FY22, up by 77.7% from Rs478.4 crore in FY21
• Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) of Rs106.9 crore in FY22 compared to Rs39.8 crore in FY21 for the corresponding period
• Profit Before Tax (PBT) is of Rs114.0 crore in FY22 compared to Rs48.4 crore in FY21
• Profit After Tax (PAT) of Rs111.2 crore in FY22 compared to Rs50.3 crore in FY21
• EPS for FY22 stood at Rs10.86, as compared to Rs4.90 for FY21

Net cash, bank and equivalents balance stood at Rs404.2 crore as on 31st March 2022.

Commenting on the company’s performance, Shikhar Aggarwal, Joint Managing Director, BLS International, said, “We are delighted with the performance of the year and latest quarter — revenue grew by 75.5% and 77.7% for Q4FY22 and FY22 respectively. Despite the Omicron wave in January, we have delivered a strong Q4 FY22 with robust growth in revenue and profitability.

At a full year level, we have delivered exceptional performance by signing new contracts with various governments across our businesses. Our domestic projects in Punjab, Uttar Pradesh, Rajasthan & Starfin continue to outperform while Visa services has shown tremendous resilience and consular services has surpassed pre-COVID levels of business performance. We expect sustained momentum with the opening up of borders and increased appetite for global travel.

In line with our focus on rewarding shareholders, the Board has approved a bonus issue of 1:1 i.e. 1 bonus equity share for each 1 fully paid equity shares held, subject to approval of shareholders. The Board has also considered and recommended a final dividend, if approved by the shareholders, aggregating Rs5.12 crore i.e. Rs0.25 per share (Nominal Value of Rs1.00 per share).

We continue focusing on spreading our reach far and wide with prudent emphasis on organic as well as inorganic growth which meets our internal rate of return threshold”.

On Monday early morning trade, BLS International was trading at Rs356.35 per piece higher by 2.66% on the BSE.