BLS International Q3 PAT nearly doubles to Rs28.3cr; Stock nearly hits upper circuit

3 Feb 2022 , 12:17 PM

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

For the quarter comparative from October to December operational revenue stood at Rs227.1cr in Q3 FY22, up by 51.0% from Rs150.4cr in Q3FY21. EBITDA stood at Rs25.5cr in Q3FY22, up from Rs13.3cr in Q3FY21. PBT is Rs27.4cr (excluding exceptional items) in Q3FY22 compared to Rs14.5cr in Q3FY21. Profit After Tax (PAT) for the quarter ended December 31, 2021, is Rs28.3cr compared to Rs14.3cr in the same period of the last financial year.

For the nine months comparative from April to December operational revenue stood at Rs596cr in 9MFY22, up by 78.6% from Rs333.8cr in 9MFY21. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) of Rs71.9cr in 9MFY22 compared to Rs29.6cr in 9MFY21 for the corresponding period.

Profit Before Tax (PBT) is of Rs76.7cr in 9MFY22 compared to Rs32.7cr in 9MFY21. There was a net adjustment amounting of Rs6.95cr (included in other expenses) in Q3FY22 from final settlement of Punjab old contract; thus EBITDA and PBT were impacted to that extent for Q3 and 9MFY22. Profit After Tax (PAT) of Rs76cr in 9MFY22 compared to Rs27.4cr in 9MFY21.  EPS for 9MFY22 stood at Rs7.42, as compared to Rs2.67 for 9MFY21.

Total debt as on December 31, 2021 stood at Nil, with cash and bank balance of Rs 371.8cr.

the company stock was bullish on Thursday and at around 12.20 pm, BLS International Services Limited was trading at Rs262.20 per piece up Rs9.10 or 3.60% on the BSE. The stock hit day’s high of Rs 265.25 per share near 5% upper circuit of 265.75 per piece. 

Shikhar Aggarwal, Joint Managing Director of BLS International commented, “We are pleased to report that in Q3 2021-22, we continued to deliver strong performance, with revenues of Rs227.1cr, registering a year on year growth of 51.0%. 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.

We are also extremely happy to announce that the company has received the full & final settlement amount from the Punjab government, thereby completely settling the books of accounts. Our Balance Sheet is now very strong which will give us enough room to grow exponentially from here”.