Global outsourcing services provider BLS International shares climbed over 3 percent in intraday trade on Tuesday after the company posted a 62 percent jump in its profit after tax (PAT) in the December quarter on a recovery in visa and consular business and higher contribution from its newly acquired entity Zero Mass Pvt. Ltd. (ZMPL).
The company, which provides outsourcing services in visa, passport, consular, citizen, e-governance, attestation, biometric, and e-visa domain along with retail services, reported a 92.9 percent growth in operational revenue in the December quarter at Rs 437.90 crore compared to Rs 227 crore in the year-ago quarter.
The company’s EBITDA jumped more than two-fold to Rs 66.3 crore from Rs 25.6 crore in the year-ago quarter.
Margins also improved to 15.1 percent as against 11.3 percent in the corresponding quarter a year ago.
Profit after tax rose by 62 percent to Rs 45.84 crore in the December quarter as against Rs 28.3 crore a year ago.
Operating revenue was boosted by Zero Mass Pvt. Ltd. (ZMPL), which contributed Rs 42.2 crore in the December quarter as against Rs 40 crore in the September quarter.
BLS International announced the acquisition of business correspondent services provider ZMPL for Rs 120 crore in June last year. ZMPL operates the largest business correspondent network for the State Bank of India.
BLS International works with over 46 client governments including Diplomatic Missions, Embassies, and Consulates to provide visas, passports, consular, citizen, e-governance, attestation, biometric, e-visa, and retail services.
Shares of BLS International are trading 3.23 percent higher at Rs 186.90.
