BLS International revenue hits record 972.7 crore rupees in second quarter
Key Facts
BLS International on November 3 reported unaudited consolidated financial results for the quarter and half year ended September 30, 2026, and said second-quarter revenue in fiscal 2027 reached a record. Revenue from operations was 972.7 crore rupees, up 32% year on year from 736.6 crore in the same period of the previous fiscal year. The company attributed revenue growth to its visa and consular services and digital services segments. The figures show faster growth in the digital segment than in visa and consular services. But the increase in revenue was not matched by similar growth in profit or margins during the quarter.
Earnings before interest, tax, depreciation and amortization rose to 248.1 crore rupees from 212.8 crore in the year-earlier quarter, an annual increase of 16.6%. However, the margin on these earnings fell to 25.5% of revenue from 28.9% a year earlier. Net profit was 201.7 crore rupees, up 8.6% from 185.7 crore in the second quarter of fiscal 2026. The net profit margin declined to 20.7% from 25.2% in the comparable period. Revenue growth therefore outpaced growth in both operating earnings and net profit, alongside a contraction in both margins.
In visa and consular services, revenue rose 11.2% year on year to 509.9 crore rupees during the quarter. The segment's earnings before interest, tax, depreciation and amortization were 213.7 crore, with a margin of 41.9% of segment revenue. Digital services grew faster, with revenue increasing 66.4% to 462.7 crore rupees. The company said this growth was based mainly on strong demand for its business correspondent network and loan disbursement businesses. The difference in growth rates shows that digital services were the faster-growing revenue driver in the quarter, while visa and consular services remained slightly larger in terms of revenue.
The expansion in digital services was reflected in the revenue mix, with visa and consular services contributing about 52% of quarterly revenue, compared with about 48% for digital services. A year earlier, the segments accounted for 62% and 38%, respectively. The company said the shift in the mix toward digital services, following the addition of Atyati Technologies, put pressure on the consolidated earnings-before-interest, tax, depreciation and amortization margin. The digital segment's margin was 7.4% during the quarter, compared with a consolidated margin of 25.5%. The company had posted a consolidated margin of 28.9% in the comparable period of the previous fiscal year, showing the concurrent increase in the digital business's share and decline in the overall margin.
For the first half of fiscal 2027, revenue from operations rose 28.7% to 1,863.2 crore rupees, compared with 1,447.2 crore in the first half of fiscal 2026. First-half earnings before interest, tax, depreciation and amortization also increased 20% to 500.5 crore rupees. The results show revenue continued to grow through the end of September, while earnings growth remained below sales growth. The company also said it surpassed 500 million applications processed globally during the quarter across its visa and consular services and citizen services businesses. The company described the milestone as a significant achievement in its global operations.
BLS International scheduled a call to discuss its second-quarter and first-half results for November 4, 2026, at 04:00 p.m. India time. The call is set to provide an opportunity to follow management's interpretation of the figures and business mix after the unaudited results announcement. It is scheduled for the day after the company announced its results on November 3. The reported figures focus on record revenue growth, faster growth in digital services and a decline in consolidated margins. The results cover the quarter and half year ended September 30, 2026.