BLS International Services Limited, an Indian visa and consular services firm, has announced a 24 pc jump in its total revenues during the first half of the current financial year.

In a press statement, BLS International says that its turnover in H1 2025 stood at INR 9.87 billion, up from INR 7.91 billion, while its Earbings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose 78.2 pc from INR 1.67 billion in H1 2024 to INR 2.97 billion in the half year ended September 30, 2024.

Announcing its results for the second quarter and the first half of the year, BLS International says that in Q2 FY2025, its revenue from operations grew by 21.4 pc YoY to INR 4.95 billion in Q2FY25 as compared to INR 4.08 billion in Q2FY24. It adds thatr the growth was mainly driven by the visa and consular business which witnessed a robust revenue growth of 29.6 pc YoY in the quarter.

It adds that the EBITDA of the company surged to INR 1.64 billion during the quarter from INR 867 million in Q2FY24, registering a growth of 89.1 pc YoY.

It says that its EBITDA margin expanded by 1,186 basis points (bps) to 33.1 pc in Q2FY25 from 21.3 pc in Q2FY24. Margin expansion was enhanced by the ongoing transition from partner run to self-managed model and the acquisition of iDATA, it says.

BLS International says that in the second quarter of FY 2025, its Profit After Taxes for the quarter stood at INR 1.46 billion as compared to INR 820 million in Q2FY24, a growth of 77.7 pc YoY. It says that high taxes in Dubai impacted PAT growth vis-a-vis EBITDA growth. It adds that after the acquisition of iDATA at INR 7.20 billion, its  net cash balance stood at INR 9.02 billion as of September 30, 2024.

Shikhar Aggarwal

“We continue to witness strong growth momentum and achieved significant milestones with respect to financial and operational performance this quarter. We recorded highest ever revenue, operating profit and Profit After Tax, for the quarter. The growth was driven by increased volume of visa applications, opening-up of new visa application centres in Columbia and Peru, and the acquisition of iDATA. The ongoing transition to a self-managed model from partner-run model and the acquisition of iDATA enhanced the operating margins by 1,186 bps to record all-time high of 33.1 pc in the quarter.  We have also expanded our operations by acquiring 100 pc stake in Citizenship Invest which was completed in October 2024 and the definitive agreement to acquire controlling stake of 57 pc in Aadifidelis Solutions, one of the largest loan distribution & processing companies in India, is expected to complete soon,’’ says Shikhar Aggarwal, Joint Managing Director, BLS International.

“With an objective to acquire a larger pie of the visa-outsourcing industry, along with expanding into untapped markets, the company is focussed on offering its services across the globe. Operating on an asset-efficient and tech-driven model that prioritises capital conservation, the company ensures strong cash flows. The strategic acquisitions will continue to drive sustainable growth for the company with a focus on maximising stakeholders value,” Aggarwal adds.