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Friday, 17 February, 2017, 10 : 00 AM [IST]

BLS International’s net profit up by 30% for Q3 FY17

BLS International Services Limited (BLS), a specialist for outsourcing of visa, passport and attestation services to the client governments across the world, has reported a net profit of INR 16.67 crore for the quarter ending December 31, 2016, up by 30.34%, as compared to INR 12.79 crore in the corresponding quarter of last fiscal.

The total Income for the quarter ended December 31, 2016 stood at INR 162.80 crore, up by 10.82%, as compared to INR 146.91 crore in the same period last year. BLS’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q3 FY17 stood at INR 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 INR 16.27, as compared with INR 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 INR 32.93 crore, as compared to INR 27.98 crore of the year ago period.

Total Income for 9MFY17 stood at INR 440.58 crore, up by 12.66%, as compared to INR 391.06 crore during 9MFY16. BLS’s EBITDA in 9MFY17 stood at INR 48.21 crore, up by 54.12%, as compared to INR 31.28 crore in 9MFY16. For 9MFY17, EPS stood at INR 32.14 as against INR 27.31 in 9MFY16.

The increase in the top-line is due to newer projects commencing in Q3FY17, the company said in a release. 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 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.”
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