Fri. Mar 29th, 2024
BLS International Services Ltd announces Q4 FY21 and FY21 results

365telugu.com,online news,16th june,India, 2021: BLS International Services Limited (BLS), a trusted global tech-enabled services partner for governments and citizens, today announced financial performance for the fourth quarter (Q4 FY21) and financial year ended March 31st, 2021. BLS International is a preferred partner for governments globally, having an impeccable reputation for setting benchmarks in the domain of visa, passport, consular, citizen, e-governance, attestation, biometric, e-visa and retail services since 2005.

BLS International Services Ltd announces Q4 FY21 and FY21 results
BLS International Services Ltd announces Q4 FY21 and FY21 results

Financial Performance

Consolidated Q4FY21 review (YoY)

Total operating revenue was Rs.153.0 Cr. as compared to Rs. 155.1 Cr. during Q4FY20.

EBITDA stood at Rs.10.0 Cr. as compared to Rs. 7.1 Cr. during Q4FY20.Profit Before Tax stood at Rs.15.6 Cr.

for Q4FY21 as compared to profit before tax of Rs. 8.2 Cr. in Q4FY20.Net Profit stood at Rs.23.0 Cr.

for Q4FY21 as compared to Rs. 8.3 Cr. in Q4FY20

Consolidated Q4FY21 review (QoQ)

Total operating revenue was Rs.153.0 Cr. as compared to Rs. 154.1 Cr. during Q3FY21.

EBITDA stood at Rs.10.0 Cr. as compared to Rs. 13.3 Cr. during Q3FY21.

Profit Before Tax stood at Rs.15.6 Cr. for Q4FY21 as compared to profit before tax of Rs.14.5 Cr. in Q3FY21.

Net Profit stood at Rs.23.0 Cr. for Q4FY21 as compared to Rs. 14.3 Cr. in Q3FY21.

Consolidated FY21 review (YoY)

Total operating revenue was Rs.497.0 Cr. as compared to Rs.799.1 Cr. during FY20.

EBITDA stood at Rs.39.7 Cr. as compared to Rs. 83.4 Cr. during FY20.

Profit Before Tax* stood at Rs.48.4 Cr. for FY21 as compared to Rs. 54.8 Cr. in FY20.

Net profit* stood at Rs.50.3 Cr. for FY21 as compared to Rs. 52.4 Cr. in FY20.     

Operational Highlights

BLS International Services Ltd announces Q4 FY21 and FY21 results
BLS International Services Ltd announces Q4 FY21 and FY21 results

Resumption of Operations: BLS International has resumed accepting visa applications for India in Canada, China, Russia, Singapore, Malaysia, UAE, Oman, Norway & Hong Kong; for Lebanon in India, Thailand & Nepal; for Brazil in China & Lebanon; for Thailand in India; for Vietnam in India; for Cyprus in Qatar; for Belarus in Singapore, Malaysia & Philippines; for Spain in 57 locations majorly including China, UK, UAE, Philippines, Singapore, Russia, Indonesia, Morocco & few more. We have also started operations for Estonia e-residency project in Brazil, Thailand, Singapore & South Africa; for UAE Attestation in Philippines. In the post pandemic scenario, with an effort to minimize physical interaction at the VACs; applicants are opting for value-added service such as Premium lounge, Mobile Biometric, Primetime Submission & Courier service as per their convenience.

New Contracts: There have been seven wins during FY21 which includes Visa Outsourcing for the Embassy of Portugal with 15 centres in Russia; Agreement with Al Wafi Governmental Services Corporation on behalf of Ministry of Foreign Affairs (MOFA), Govt of Egypt for legalization of documents for the Egyptians; Accreditation by Royal Canadian Mounted Police (RCMP), Government of Canada to provide biometric services in Canada; Mandated to issue Estonian E-residency Digital ID cards in Japan, Thailand, Singapore, Brazil and South Africa; Visa Outsourcing for Embassy of Brazil with 15 centres in China; Citizen Services contract by Uttar Pradesh government; and visa outsourcing for the Embassy of Thailand in India. 

Management Comment

Commenting on the Company’s performance for Q4FY21 and FY21, Mr. Shikhar Aggarwal, Joint MD – BLS, said, “Despite current global scenario owing to the pandemic, we have been able to maintain healthy financial performance which is exceptional in relative terms as compared to the industry grappling for survival. Our domestic projects in Punjab, Uttar Pradesh & StarFin continue to perform better than pre-Covid levels while visa & consular services are expected to register stimulus with countries opening up their borders and vaccination drives at full swing. Globally, our existing projects resume operations while the new projects continue to pick-up momentum. We shall continue to focusing on strengthening our relations with existing client base with consistent emphasis on organic and well as inorganic growth.”