Reports net profit of ₹105.17 crore, registers 8.94% growth in FY19
Consolidated Results
Annual Results FY19 viz FY18:
For the Quarter ended on March 2019 (Q4 FY19 viz Q4 FY18):
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New Delhi, May 28, 2019: BLS International Services Limited (BLS), a specialist provider of Visa, Passport, Attestation, Consular and Citizen Services to the Governments across the world, declared its financial results today for year ending March 31, 2019.
The company reported Net Profit of Rs. 105.17 crore for FY19, up by 8.94% as compared to Rs. 96.53 crore in the corresponding quarter of last fiscal. The company’s FY19 PAT margin stood at 12.43% which was 12.17% in FY18.
Total Income for the year ended March 2019 stood at Rs. 846.38 crore, up by 6.72 %, as compared to Rs. 793.10 crore in the last year. The company’s earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in FY19 stood at Rs. 150.97 crore as compared to Rs. 162.78 crore in FY18.
Earnings per share (EPS) for the year ended FY19 stood at Rs. 10.27, as compared with Rs. 9.42 for the year ended FY18.
Commenting on the financial performance of the company Mr. Shikhar Aggarwal, Joint Managing Director, BLS International Services Ltd said, “The Company’s financial result illustrates the remarkable growth led during the fiscal 2018-19. With the addition of new contracts and the efficient management of existing ones, BLS International has showcased efficiency and zeal to provide the best and quality services to the citizens across the globe. With the global standard of providing services, we intend to diversify our service portfolio and partner with governments across the globe to provide differentiated and personalized experience in the coming quarters as well”.
He further added, “With the Governments across the globe looking for efficient partners and meaningful alliances, BLS truly fits into the bill by offering tailor-made services to our citizens. Going forward, we will continue to invest and innovate our services to successfully tap the significant growth opportunities and deliver profitable volume-led growth. “
BLS’s contract for Attestation and Apostille Services was renewed by the Ministry of External Affairs. The Company expanded operations and added 11 more centres across the country to facilitate the process for MEA and the customers.
BLS also signed contracts with Embassy of Vietnam and Embassy of Lebanon, to accept visa applications in India. This addition to the already robust portfolio of Consular and Citizen Services offered by BLS International reflects the company’s focus on efficiency and continuous excellence in its operations. The Company is now accepting visa applications and providing attestation and legalization services for travel to Vietnam and Lebanon at Mumbai, Hyderabad, Guwahati, Kolkata, Chennai, Ahmedabad, Bhopal, Goa, Kochi, Lucknow, Raipur, Delhi, Bengaluru, Chandigarh and Trivandrum.
BLS International entered a strategic alliance with Sopra Steria for delivery of contract awarded by United Kingdom Visas & Immigration (UKVI) to handle visa renewal applications for individuals who are already in the UK.
BLS International was awarded a new contract by the Punjab Government for a period of 5 years to operate 352 facilitation centres for providing 169 citizen centric services covering 16 districts of Punjab and working with 22 departments.
The Company also announced that it is working with the Ministry of Human Resources and Emiratisation (MOHRE) in UAE to provide a portfolio of Mobile Services to citizens under TAW-SEEL. The Company will start the project with Ministry of Labor to provide mobile services for issuance, renewal and amendment of labor permits and employment offer letters. Other services like generation of Emirates ID Card, Amer, Tawjeeh, Tasheel, Tadebeer services under MOHRE will be added subsequently.
In the last quarter, BLS was also conferred with multiple awards, from entering into select club of ‘Fortune India Next 500’ companies’, to Mr. Shikhar Aggarwal, Joint Managing Director, BLS International winning the “Young Achiever Award of the Year” at Times Network’s National Award for Marketing Excellence in Travel and Tourism industry.
In recent months, BLS International has been gearing up to provide innovative solutions to Governments and Citizens across the globe and engaged global consulting firm EY to review structures and processes. The company has set-up a high-powered Advisory Board to complement the fortified leadership team.
The company 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.
BLS International serves client governments via visa & passport application centers across Asia, Africa, Europe, South America, North America and the Middle East for over 36 client governments across 62 countries.
About BLS International
BLS International is a leader in Consular and Visa process outsourcing and is a preferred partner for Embassies and Governments across the world to deliver efficient support using technology enabled secure processes. BLS International is recognized as an ethical company and was recently rated by Forbes Asia as ‘Best under a Billion’ company from amongst 24,000 companies.
The company works with Diplomatic Missions, Embassies & Consulates and leverages technology and processes that ensure data security. The Company now has an extensive network of centres in India and globally for providing consular services, biometrics and numerous citizen services. BLS International emphasizes passion, flexibility and innovation to add value to clients.
The Company is ISO 9001:2015 certified for Quality Management Systems, ISO 27001:2013 certified for Information Security Management Systems, ISO 14001 verified for Environmental Management Systems and ILO-OSH 2001 certified for Occupational Safety and Health.
Amongst others, the expertise includes -
· Visa/Passport/ Consular Outsourcing Services
· Biometric Services
· Citizen Services/ E-Governance Services
· E-Visa/ Online Visa Management Services
· Attestation and Apostille services for Ministry of External Affairs and other Consulates
BLS International is the only listed company in this domain with operations in 62 countries.
BSE: 540073; NSE: BLS
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