New Delhi, February 17, 2017 (GPN) : BLS International Services Limited (BLS), a specialist provider for Outsourcing of Visa, Passport and Attestation Services to the Client Governments across the world today declared its financial results for the third quarter and nine months ended December 31, 2016.
The company reported Net Profit of Rs. 16.67 crore for Q3FY17, up by 30.34%, as compared to Rs. 12.79 crore in the corresponding quarter of last fiscal.
Total Income for the quarter ended December 31, 2016 stood at Rs. 162.80 crore, up by 10.82%, as compared to Rs. 146.91 crore in the same period last year. BLS’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q3FY17 stood at Rs. 28.10 crore, up 100.71%. The company’s EBITDA margin improved by 773 basis points, from 9.53% in Q3FY16 to 17.26% in Q3FY17. The company’s Q3FY17 PAT margin stood at a robust 10.24%.
Earnings per share (EPS) for the quarter ended Q3FY17 stood at Rs. 16.27, as compared with Rs. 12.48 for the quarter ended Q3FY16.
For the nine months period ended December 31, 2016, BLS’s net profit jumped by 17.69% to Rs. 32.93 crore, as compared to Rs. 27.98 crore of the year ago period.
Total Income for 9MFY17 stood at Rs. 440.58 crore, up by 12.66%, as compared to Rs. 391.06 crore during 9MFY16. BLS’s EBITDA in 9MFY17 stood at Rs. 48.21 crore, up by 54.12%, as compared to Rs. 31.28 crore in 9MFY16.
For 9MFY17, EPS stood at Rs. 32.14 as against Rs. 27.31 in 9MFY16.
The increase in the top-line is due to newer projects commencing in Q3FY17. The improvement in the operating margins are on account of newer projects having different models of revenue and investments done thereof.
Commenting on the financial performance of the company Mr. Nikhil Gupta, Managing Director, BLS International Services Limited, said, “FY 2016-17 has been phenomenal for the company with bagging of major contracts in India and overseas. The results for these wins have started reflecting in our financial performance and shall continue for the next few quarters when these projects complete various stages of implementation. We are pleased that the team has been able to operationalise projects at such a fast pace”
About BLS International Services Limited (www.blsinternational.com); BSE: 540073; NSE: BLS)
BLS International Services Ltd. is a specialist provider for Outsourcing of Visa, Passport and Attestation Services to the Client Governments across the world. BLS serves the Diplomatic Missions by managing all administrative and non-judgmental tasks related to the entire life cycle of a visa application process, enabling missions to focus entirely on the key aspects of assessment of the visa application and conduct interviews, where required; here too, BLS assists in scheduling interviews.
BLS has operations in more than 51 countries and is providing services through 102 offices worldwide. The company has processed more than 1.4 crore applications so far.
BLS is also 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.
BLS supports the consular framework with streamlined processes and work flows. It has the necessary skilled human resources and technical capabilities (including complete biometric solutions) and financial capabilities to deliver efficient and optimal outsourcing solutions. Moreover, to ensure highly efficient project management, it assigns dedicated teams of skilled and experienced persons with relevant project management experience for each project.
