Travel Support Services company BLS International Services announced Q4FY23 & FY23 results:
- Operational Revenue stood at Rs 448.63 crore in Q4FY23, up by 76.73% from Rs 253.84 crore in Q4FY22
- EBITDA stood at Rs 66.53 crore in Q4FY23, up 89.9% from Rs 35.04 crore in Q4 FY22. Improvement in operational efficiencies offset the rise in the cost of services and employee costs
- PBT is Rs 87.16 crore in Q4FY23 compared to Rs 37.26 crore in Q4FY22
- PAT for Q4FY23 is Rs 76.73 crore, 118.0% YoY higher compared to Rs 35.20 crore in Q4FY22
- Operational Revenue stood at Rs 1,516.19 crore in FY23, up by 78.40% from Rs 849.89 crore in FY22
- EBITDA stood at Rs 221.00 crore in FY23, up 106.69% YoY from Rs 106.93 crore in FY22. EBITDA margin improved by 200 bps mainly due to higher volumes.
- PBT is Rs 220.49 crore in FY23 compared to Rs 113.96 crore in FY22
- Profit After Tax (PAT) for FY23 is Rs 204.27 crore, 83.69% YoY higher compared to Rs 111.20 crore in FY22
Commenting on the company’s performance, Shikhar Aggarwal, Joint Managing Director, BLS International, said, “Our fourth quarter performance has been in line with expectations. The Company has reported its highest-ever quarterly revenue while maintaining EBITDA levels.
We are seeing robust growth from our visa & consular services, coupled with Digital Services businesses. Our Q4FY23 revenue grew 76.7% year-on-year to Rs 448.6 crore, while EBITDA and PAT grew 89.9% and 118.0% to Rs 66.5 crore and Rs. 76.7 crore, respectively. Geographical areas such as China have opened up, and we expect to increase the number of visa applications.
We recently consolidated our banking correspondence and e-Governance businesses into a Digital Services segment, which is operated through our subsidiary BLS E-Services. The Digital Services business has been growing well, as we continue to expand our network of touchpoints across India.
We shall continue focusing on spreading our reach far and wide with prudent emphasis on organic as well as inorganic growth while striving to maintain our internal rate of return threshold”.