BLS International Services Limited, a leading provider of tech-enabled services to governments and citizens, announced its audited consolidated financial results for the quarter and fiscal year ending March 31, 2024.
The company reported a revenue growth of 10.6% in FY24, with EBITDA and PAT surging by 56.4% and 59.4%, respectively. The EBITDA margin expanded by 603 basis points to 20.6%.
BLS International secured several key contract renewals and new agreements during the year, including the renewal of its global contract from Spain, India Operations contract in Canada, a global contract from Slovakia, and a comprehensive Visa outsourcing agreement covering multiple European countries.
The company also completed the successful IPO of its subsidiary, BLS E-Services Limited, and acquired a 100% stake in iDATA, a Turkey-based Visa & Consular service provider.
Looking ahead, BLS International is optimistic about continued profitability driven by new contracts and increased application volumes. The company remains focused on expanding its market share through organic growth initiatives and strategic acquisitions.