BLS International Q1 net profit up by 70% y-o-y

6 Aug 2024 , 12:23 PM

BLS International Services Ltd reported a 70.1% year-on-year (YoY) increase in net profit to ₹120.8 Crore for the first quarter ended June 30, 2024.

Following this development, company’s counter hit a lifetime high of ₹429.95 on BSE.

In the same quarter, BLS International Services reported a net profit of ₹71 Crore, according to a regulatory filing. The company’s revenue from operations climbed by 28.5% to ₹492.7 Crore, up from ₹383.5 Crore the previous fiscal year.

EBITDA increased by 66% to ₹133.1 Crore in the first quarter of this fiscal year, up from ₹80.2 Crore the previous year.

The EBITDA margin was 27% in the reporting quarter, up from 20.9% in the same period last fiscal year.

BLS International’s visa and consular business, accounting for 84% of total revenue, increased by 35.9% YoY to ₹414.1 Crore from ₹304.8 Crore in the first quarter of FY24.

The company experienced a 70.9% YoY rise in EBITDA to ₹121.3 Crore after transitioning from a partner-led to self-managed business model across many locations.

BLS International’s visa and consular business, accounting for 84% of total revenue, increased by 35.9% YoY to ₹414.1 Crore from ₹304.8 Crore in the first quarter of FY24.

The company experienced a 70.9% YoY rise in EBITDA to ₹121.3 Crore after transitioning from a partner-led to self-managed business model across many locations.

The EBITDA margin rose by 600 basis points (bps) to 29.3% from 23.3% the prior year. Furthermore, the number of visa applications climbed by 18% in the quarter to 8.50 lakh.

At around 12.11 PM, BLS International was trading 7.97% higher at ₹377.85, against the previous close of ₹349.90 on BSE.

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