Stock market today: BLS International share jumps 10% after Q1 results 2024

Stock market today: BLS International shares witnessed strong buying interest among Dalal Street bulls on Tuesday. BLS International's share price today opened with an upside gap at ₹378.45 apiece on the NSE and touched an intraday high of ₹387 per share within a few minutes of the stock market opening bell. While climbing to this intraday high, BLS International shares logged an intraday gain of around 10 percent against Monday's close price of ₹349.90 per share.

BLS International Q1 results 2024

The company has gained the attraction of bulls since the announcement of Q1FY25 results on Monday. In Q1 results 2024, BLS International Limited registered a strong start to the year and delivered a robust performance with consolidated Revenue and EBITDA growth of 28.5 percent & 66.3% YoY, respectively, during the quarter. The increase was driven by the Visa & Consular business, which witnessed revenue growth of 35.9 percent YoY and EBITDA growth of 70.90% YoY in Q1FY25. The company's focused approach to increasing market share globally, coupled with strong industry tailwinds, have contributed to the segment's growth, the company's management claimed while sharing the guidance for FY25.

Speaking about the performance and recent updates, Shikhar Aggarwal, Joint Managing Director of BLS International Services Ltd., said, "Our ongoing efforts to make our visa business operations more efficient by transitioning from the partner-run to self-managed centres at various locations enabled us to achieve the EBITDA Margin. The EBITDA margin of the Visa & Consular business witnessed an expansion of 600 bps YoY and 850 bps QoQ to 29.3% from 23.3% in Q1FY24 and 20.8% in Q4FY24."

"Recently, we have achieved a major milestone with the completion of the acquisition of a 100% stake in iDATA, and we are working on integrating iDATA's business operations with BLS. During Q1FY25, we also entered a definitive Share Purchase Agreement to acquire a 55% controlling interest in Aadifidelis Solutions Pvt—Ltd – one of India's largest loan distribution and processing companies. The acquisition is expected to close during the current quarter, and we believe it will reinforce our last mile banking coverage and provide ample cross-selling opportunities under our Digital business," Shikhar Aggarwal added.

Highlights of BLS International results Q1FY25

1] The company's Revenue from Operations grew by 28.5% YoY to ₹492.7 Crores in Q1FY25, compared to ₹383.50 Crores in Q1FY24. The growth was mainly driven by the Visa & Consular business, which witnessed a robust revenue growth of 35.9% YoY to ₹414.1 Crores.

2] The company's EBITDA surged to ₹133.2 Crores during the quarter from ₹80.10 Crores in Q1FY24, registering a growth of 66.3% year over year.

3] EBITDA Margin expanded by 615 bps to 27.0% in Q1FY25 from 20.9% in Q1FY24.

4] PAT for the quarter stood at ₹120.8 Crores, compared to ₹71.0 Crores in Q1FY24, a growth of 70.1% year over year.

5] The company's Visa & Consular business revenue grew by 35.9% YoY in Q1FY25 to ₹414.10 Crores compared to ₹304.80 Crores in Q1FY24.

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