BLS International shares gain nearly 10%; Co continues to target up to 25% growth

Shares of BLS International Services Ltd. gained on Wednesday, May 20, reacting to the company’s fourth quarter earnings that were reported after market hours on Tuesday, and the management keeping its growth targets intact.BLS International’s joint MD Shikhar Aggarwal told CNBC-TV18 on Wednesday that geopolitical tensions have a short-term impact. He said the margin in the visa business has increased from the previous year and he expects it to sustain. Meanwhile, the digital business has declined due its recent acquisition.

He said the company will continue to target 20-25% growth in the next few years, adding that the Schengen area demand continues to grow steadily.
Aggarwal said the full revenue from the UIDAI contract will start accruing in the next six to 12 months.

BLS International In Q4

The company’s fourth quarter consolidated profit after tax (PAT) was up 28.9% at ₹186.9 apiece from ₹145 crore last year.
Its revenue increased 17.7% to ₹814.5 crore from ₹692 crore in the previous year.Earnings before interest, tax depreciation and amortisation (EBITDA) increased 17.84% to ₹204.1 crore from ₹173.2 the previous year.

Its EBITDA margin increased marginally to 25.06% from 25.03% in the year-ago period.

Shares of BLS International are trading 5.8% higher at ₹277.25. The stock is down 5% in the last one month, extending its year-to-date losses to 12%.

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