BLS International has reported a net profit of Rs. 34.03 crore for Q1 FY19, up by 17.09 per cent, as compared to Rs. 29.06 crore in the corresponding quarter of last fiscal. The company’s Q1 FY19 PAT margin stood at a strong 16.83 per cent, as compared to 14.85 per cent in Q1 FY18.
Total Income for the quarter ended June 2018 stood at Rs. 202.22 crore as compared to Rs. 195.76 crore in the same period last year. The company’s earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1 FY19 stood at Rs. 50.46 crore and improved by 14.77% from Rs. 43.96 crore in Q1 FY18.
Earnings per share (EPS) for the quarter ended Q1 FY19 stood at Rs. 3.32, as compared with Rs. 2.84 (adjusted for 10:1 split) for the quarter ended Q1 FY18.
Commenting on the financial performance of the company Shikhar Aggarwal, Joint Managing Director, BLS International Services Limited said, “First quarter of FY19 has been remarkable for us with 2 major contracts – firstly a strategic partnership with Sopra Steria for contract with UK Government and secondly with the Ministry of Foreign Affairs Italy, showcasing our expansion in the European market… Our partnership with finest global organizations has helped in strengthening customer experience, increased data security, manpower and organisation structuring, operational effectiveness and process improvements. We have seen that this focus has led to better profit realisation and we hope to sustain the momentum “
BLS International kick-started the first quarter of FY19 by a strategic alliance with Sopra Steria for delivery of contract awarded by United Kingdom Visas & Immigration (UKVI) to enable visa renewals for individuals who are already in the UK. The company also signed a contract with Ministry of Foreign Affairs Italy and commenced operation of processing Italy visa applications in Singapore on 2nd July 2018.
The Spain global contract that BLS International bagged in December 2016 yielded strong results for the first quarter of FY19 as well. With a total of 124 BLS operated Spain VACs in 49 countries, the count of applications processed increased by 10 per cent since BLS International took over Spain Visa application processing. The centres have regularly been fortified with wide range of Value Added Services (VAS) for the applicant’s convenience.
The company has recently been awarded a new contract by the Punjab Government for a period of 5 years to operate 352 facilitation centres for providing 169 citizen centric services covering 16 districts of Punjab and working with 22 departments.
BLS is also under contract with Islamic Republic of Afghanistan in UAE representing the Afghanistan Mission in UAE, Qatar, Oman, Bahrain and Kuwait and Saudi Arabia. Under this partnership, the company is providing consular services through registration of Afghan citizens, etc.
BLS is an authorized Service Provider for attestation of documents by the Ministry of External Affairs, India. It also serves the Embassy of the State of Kuwait and High Commission of Malaysia and several others in the field of Visa/ Attestation of Documents/ Apostille in India.
