Conference Call with BLS International Services Management and Analysts on Q3FY25 Performance and Outlook. Listen to the full earnings transcript.
Travel Support Services company BLS International Services announced Q3FY25 results Financial Highlights: The company’s Revenue from Operations expanded by 17.1% YoY to Rs 512.8 crore in Q3FY25 from Rs 437.9 crore in Q3FY24. Company’s EBITDA surged by 78.5% YoY to Rs 158.1 crore during the quarter as compared to Rs 88.6 crore in Q3FY24. EBITDA Margin increased to 30.8% in Q3FY25 from 20.2% in Q3FY24. Margin expansion was enhanced by the ongoing transition from partner run to self-managed model and integration of newly acquired businesses. PAT for the quarter scaled to Rs 127.9 crore as compared to Rs 87.2 crore reported in Q3FY24, a growth of 46.7% YoY. Post acquisitions done in FY25, the company’s net cash balance stood at Rs 690 crore as of 31st December 2024 Business Highlights: Visa & Consular Business Visa & Consular business revenue grew by 3.1% YoY in Q3FY25 to Rs 375.7 crore as compared to Rs 364.4 crore reported in Q3FY24. EBITDA Margin witnessed a robust expansion of 1,564 bps to 37.4% in Q3FY25 from 21.7% registered in Q3FY24. Net Revenue per application stood at Rs 2,837 for Q3FY25 vs. Rs 2,250 for Q3FY24, a robust growth of 26.2% YoY. Digital Business Revenue for the Digital business expanded by 86.7% YoY to Rs 137.2 crore in Q3FY25 from Rs 73.5 crore in Q3FY24. Q3FY25 revenue includes Aadifidelis Solutions’ revenue of Rs 52.7 crore consolidated from 26th Nov 2024 onwards. EBITDA surged to Rs 17.7 crore (including Rs 2.3 crore EBITDA of Aadifidelis Solutions) during the quarter as compared to Rs 9.4 crore in Q3FY24, up by 88.1%. EBITDA Margin increased to 12.9% during Q3FY25 from 12.8% in Q3FY24. Shikhar Aggarwal, Joint Managing Director, BLS International Services said: “The company continues to report remarkable performance during this quarter as well, outlined by a robust growth across all key financial and operational metrics. In line with the company’s focus on improving EBITDA, we reported a 78.5% YoY growth in Q3FY25 and 78.3% YoY growth in 9MFY25. This growth was driven by strong operational efficiencies and supported by the transition to self-managed model from the partner-run model, along with the integration of new businesses. During the quarter, we completed the acquisition of a controlling stake of 57% in AadifidelisSolutions Pvt. Ltd and its affiliates. With the total investment of over Rs 1,000 crore done in FY25 for the new acquisitions, which were primarily funded through internal accruals, the company still has a robust balance sheet with net cash of Rs 690 crore as of 31 December 2024. The company is strategically positioning itself to increase its share in the industry by penetrating newer markets worldwide, by leveraging the asset-efficient and tech-driven business model. We endeavour to continue to focus on delivering strong performances in future and maintaining our strong balance sheet, through a balanced mix of organic and inorganic growth routes. Result PDF