BLS International Services (BLS) Q1 24/25 earnings summary

Executive summary

• Achieved consolidated total income of INR 510 crores in Q1 FY25, up 31% year-over-year, with highest ever quarterly profits and PAT of INR 121 crores, a 70% increase year-over-year.

• Revenue from operations in Q1 FY25 reached INR 492.7 crores, up 28.5% from Q1 FY24, driven by visa and consular business growth.

• Completed 100% acquisition of iDATA, a Turkey-based visa services company, for INR 720 crores, expanding European market presence; integration to start from Q2 FY25.

• Signed SPA to acquire 55% stake in Aadifidelis Solutions, a major loan distribution company, to strengthen digital and last-mile banking services.

• Earnings per share (EPS) for Q1 FY25 was ₹2.77, compared to ₹1.96 in Q4 FY24 and ₹1.68 in Q1 FY24.

Financial highlights

• EBITDA surged 66% to INR 133.2 crores in Q1 FY25, with margin improving to 27% from 21% in Q1 FY24.

• PAT grew 70% to INR 120.8 crores, with margin up 600 basis points to 24.5%.

• Cash and cash equivalents stood at INR 1,209 crores as of June 30, 2024.

• Other income rose to Rs. 17.5 Crores from Rs. 7.0 Crores year-over-year.

• Profit before tax for Q1 FY25 was ₹13,470.91 lakhs, up from ₹9,346.45 lakhs in Q4 FY24 and ₹8,043.71 lakhs in Q1 FY24.

Outlook and guidance

• Management expects continued growth momentum, supported by global travel tailwinds, new contracts, and further synergies from acquisitions.

• Anticipates further margin expansion and sustained growth in both visa and digital businesses.

• Financial benefit from iDATA acquisition to be visible from Q2FY25.

• Aggressive bidding and expansion into new geographies and service lines planned.

• The company continues to invest in technology infrastructure and organic/inorganic growth, as indicated by the utilization of IPO proceeds.