BLS International's Revenue and Profit Surge in FY24; Eyes Further Growth with iDATA Acquisition

The EBITDA for the quarter grew by 35.7 per cent to Rs. 90.3 crores, despite higher employee costs and other expenses. The EBITDA margin for Q4 expanded by 534 basis points to 20.2 per cent. PBT before exceptional items rose by 43.4 per cent to Rs. 93.5 crores from Rs. 65.2 crores in Q4 FY23.
BLS International Q4 Results

BLS International Q4 Results (Image Source: iStockphoto)

BLS International Services Limited, a global tech-enabled services partner for governments and citizens, has announced its audited consolidated financial results for the quarter and fiscal year ending 31 March 2024.
The company reported a 10.6 per cent increase in annual revenue from operations, reaching Rs. 1,676.8 crores compared to Rs. 1,516.2 crores in FY23. The EBITDA saw a robust 56.4 per cent rise, amounting to Rs. 345.7 crores from Rs. 221.1 crores the previous year. This resulted in a significant expansion of the EBITDA margin, now at 20.6 per cent, up from 14.6 per cent in FY23.
The Profit before tax (PBT), excluding exceptional items, also recorded growth, increasing by 57.8 per cent to Rs. 352.1 crores compared to Rs. 223.1 crores in FY23.
For Q4 FY24, revenue from operations remained stable at Rs. 447.7 crores, nearly matching the Rs. 448.6 crores in Q4 FY23. This moderation in revenue growth was attributed to lower volumes in key regions due to the Ramadan festival.
The EBITDA for the quarter grew by 35.7 per cent to Rs. 90.3 crores, despite higher employee costs and other expenses. The EBITDA margin for Q4 expanded by 534 basis points to 20.2 per cent. PBT before exceptional items rose by 43.4 per cent to Rs. 93.5 crores from Rs. 65.2 crores in Q4 FY23.
Speaking about the performance and recent updates, Mr. Shikhar Aggarwal, Joint Managing Director, BLS International Services Ltd. said: "I am delighted to share that we have continuedour robust growth trajectory and achieved a revenue growth of 10.6 per cent in FY24, withtheEBITDA and PAT surging by 56.4% and 59.4% respectively. The year also saw us signing a definitive share purchase agreement to acquire a 100%stake in iDATA, a Turkey-based Visa & Consular service provider and manages over 37 Visa ApplicationCentres (VAC) across 15+ countries."
At the time of filing, the shares of BLS were trading at Rs 319.70, .44 per cent up from the previous day's closing. The 52 week high and low of the share is Rs 429.95 and Rs 166.30 respectively. The company has also recommended final dividend at the rate of 50 per cent on face value i.e. 0.50/- per equity share.
(Disclaimer: The above article is meant for purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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