Home / Business and Economy / BLS International's Profit Jumps 35% Amidst Major Wins
BLS International's Profit Jumps 35% Amidst Major Wins
6 Feb
Summary
- Net profit rose 34.8% to ₹162.7 crore.
- Revenue surged 43.6% to ₹736.5 crore.
- Secured global visa contracts with Slovakia and Cyprus.
BLS International achieved a robust third-quarter financial performance, reporting a 34.8% year-on-year increase in net profit to ₹162.7 crore. The company's revenue experienced a significant surge of 43.6%, climbing to ₹736.5 crore compared to the previous year's corresponding period.
Despite a contraction in EBITDA margin to 26.9% from 30.8%, the company secured several high-profile domestic and international contracts. These wins include a global contract to manage visa application centers for the Slovak Republic in over 80 countries.
Further expanding its global footprint, BLS International won a visa outsourcing contract from the Republic of Cyprus covering numerous African nations, as well as additional Cyprus contracts in Asian countries like China and Kazakhstan.
Domestically, the company secured a three-year contract from the Ministry of External Affairs to operate Indian Visa Application Centres in China. BLS International also renewed its attestation and apostille services contract with the MEA across 17 major Indian centers.
