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Business EconomyPosted at: Aug 5 2024 8:59PM


BLS E-Services net up 127 pc to Rs 12.6 cr in Q1; Revenue remains flat

New Delhi, Aug 5 (UNI) BLS E-Services, a subsidiary of BLS International, a technology-enabled digital service provider in India on Monday announced 127 per cent jump year-on-year basis in net profit at Rs 12.6 crore in Q1 (April-June) of FY25 as compared to Rs. 5.6 Crores in Q1FY24.
Revenue for the quarter remained flat at Rs 75.4 Crores in the first quarter of current financial year as against Rs. 75.3 Crores in Q1FY24, company said in a release.
Speaking about the performance and recent updates, Mr. Shikhar Aggarwal, Chairman, BLS E-Services Ltd. said “The Company’s consolidated Revenue from Operations remained at similar levels for the quarter, while on profitability front, we witnessed a robust YoY growth in EBITDA and PAT of 36.7% and 127.0% respectively. EBITDA Margin for the quarter expanded to 15.6% from 11.4% in Q1FY24 on account of reduced costs of services and lower other expenses, while PAT Margin expanded to 16.8% from 7.4% in the previous corresponding quarter.”
I am also pleased to announce that, during the quarter, we entered into a definitive Share Purchase Agreement to acquire 55% controlling interest in Aadifidelis Solutions Pvt. Ltd. and its affiliates (ASPL), one of the largest players in rendering secured as well as unsecured loans for corporates and individuals, through its Pan-India presence in 17 states and UTs via a network of 8,600 channel partners.
The acquisition, which is expected to close in Q2FY25, and will open-up huge cross-selling opportunities, while expanding our portfolio of citizens-centric last mile banking services, he added.
The company continues to pursue establishing technology-enabled infrastructure and remain steadfast in its dedication to deliver last mile services to the unserved and underserved rural and remote population of India.
“We will also maintain our focus on further expanding our reach and enhancing the quality of services, making BLS E Services a household name at the grassroot levels in India,” Aggarwal added. UNI SKB AKS
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Tags: #BLS E-Services net up 127 pc to Rs 12.6 cr in Q1; Revenue remains flat
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