BLS International Services Ltd. delivered impressive third-quarter results with net profit rising 34.8% year-on-year to ₹162.7 crore, compared with ₹120.7 crore in the corresponding period last year. According to reports from CNBC TV18, revenue for the quarter surged 43.6% YoY to ₹736.5 crore, up from ₹513 crore in the year-ago quarter. EBITDA increased 25% YoY to ₹198 crore from ₹158 crore a year ago, demonstrating the company's operational strength despite some margin pressures. As per The Economic Times, the company also announced an interim dividend of ₹2 per equity share for the quarter.
While the company achieved strong revenue and profit growth, operating performance saw some pressure with the EBITDA margin slipping to 26.9% from 30.8% in the year-ago quarter, reflecting a contraction of 390 basis points. As reported by CNBC TV18, this margin compression indicates increased operational costs or competitive pressures during the quarter, despite the overall positive financial results. Following the results announcement, shares of BLS International closed down 3.03% on Friday, settling at ₹291 apiece, as the market reacted to the margin compression despite strong top-line growth and significant new business wins.
During the quarter, BLS International secured several significant international contracts that strengthened its global presence. According to CNBC TV18, the company won a global visa contract with the Slovak Republic to establish and operate visa application centres in over 80 countries. Additionally, the company secured a visa outsourcing contract from the High Commission of the Republic of Cyprus, extending services across multiple African nations including South Africa, Lesotho, Eswatini, Mauritius, Botswana, Zimbabwe, Zambia, Namibia, Madagascar, Malawi and Mozambique, and also expanding services across Asia, including China and Kazakhstan. These contracts demonstrate the company's continued global expansion strategy.
On the domestic front, BLS International was awarded a three-year contract by the government's Ministry of External Affairs to establish and operate Indian Visa Application Centres across China. As reported by CNBC TV18, the company also renewed its MEA contract for attestation and apostille services across 17 major centres in India. These contracts demonstrate the company's continued role in India's diplomatic and consular services infrastructure.
Further strengthening its order book, BLS International secured a ₹100 crore project from the Bihar government to establish Permanent Enrolment Centres for Aadhaar, along with an additional order from UIDAI worth ₹2,055.35 crore to establish and operate district-level Aadhaar Seva Kendras. According to CNBC TV18, these contracts significantly expand the company's presence in India's digital identity infrastructure, representing substantial long-term revenue opportunities and demonstrating the company's strong position in India's government services sector. As per The Economic Times, the company also secured a five-year global contract from the Slovak Republic to establish and operate Visa Application Centres in over 80 countries across all major regions, significantly broadening its international operations and client base.
