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**BLS International Services Ltd. Unveils Strong Q2FY24 Results and Strategic Milestones! **
Financial Snapshot:
- Operational Revenue (Q2FY24): ₹407.7 Cr, a robust 14.3% YoY growth.
- EBITDA (Q2FY24): ₹86.7 Cr, marking the highest ever in the company’s history with a stellar 52.7% YoY growth.
- PAT (Q2FY24): ₹82.0 Cr, witnessing an impressive 60.8% YoY growth.
- EBITDA Margin (Q2FY24): Surges past 20%, reflecting operational excellence.
- Cash on Books: ~₹687 Cr, making BLS International a debt-free company.
Strategic Achievements:
- Global Ranking: Among the World’s Top 3 Visa & Consular Services companies.
- Contract Wins: Secures a global visa outsourcing contract for Slovakia in 18 countries, further strengthening its position.
- Financial Metrics: ROCE at 35.5% & ROE at 34.6% (H1FY24 annualized financials), showcasing significant returns.
- Market Presence: Processes Visa applications for key countries like Spain, Italy, Portugal, Germany, Thailand, and more.
Quarterly Performance (Q2FY24 vs. Q2FY23):
- Operational Revenue: ₹407.74 Cr, up by 14.26% YoY, fueled by growth in Visa & Consular services and the digital business.
- EBITDA Growth: Records the highest-ever EBITDA of ₹86.74 Cr, a remarkable 52.71% YoY surge, driven by favorable business mix and operational efficiencies.
- EBITDA Margin Expansion: Touches 21.27%, up by 535 basis points from 15.92% in Q2FY23.
- Profitability Boost: PBT stands at ₹87.18 Cr, reflecting a 55.07% YoY growth, while PAT registers ₹82.00 Cr, a significant 60.81% YoY increase.
Half-Yearly Performance (H1FY24 vs. H1FY23):
- Operational Revenue: ₹791.22 Cr, marking a solid 25.66% YoY growth.
- EBITDA Surge: Touches ₹166.79 Cr, an impressive 88.90% YoY increase.
- Profitability Acceleration: PBT records ₹167.62 Cr, a substantial 89.11% YoY growth, while PAT stands at ₹152.99 Cr, an 87.28% YoY increase.
Strategic Moves and Collaborations:
- Global Visa Outsourcing: Wins Schengen Global Visa Outsourcing Contract for Slovakia, expanding its reach across 18 countries.
- Banking Collaboration: Partners with Kotak Mahindra Bank for accessible and affordable banking services in underserved regions.
- Digital Integration: Successfully integrates UMANG Services into its digital platform, offering access to over 500 e-governance services.
- Global Expansion: Rolls out Visa outsourcing services for Hungary, Italy, Bangladesh, Uzbekistan, Qatar, Senegal, Cameron, and Abu Dhabi.
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