Q1FY25 Quarterly Result Announced for BLS E-Services Ltd.
Commercial Services company BLS E-Services announced Q1FY25 results: Financial Highlights: Revenue for the quarter was at Rs 75.4 crore as against Rs 75.3 crore in Q1FY24 EBITDA stood at Rs 11.7 crore as compared to Rs 8.6 crore in Q1FY24, up by 36.7%. EBITDA margin expanded by 418 bps to 15.6% in Q1FY25 from 11.4% in Q1FY24 PAT in Q1FY25 grew by 127.0% to Rs 12.6 crore, as compared to Rs 5.6 crore in Q1FY24. PAT Margin was at 16.8% in Q1FY25, expanded by 938 bps, from 7.4% in Q1FY24 Key Highlights: The Business Correspondent business witnessed over 3.5 crore transaction with gross transaction value of over Rs 20,000 Crore during Q1FY25. At the end of the quarter, the business had 27,000+ CSPs and 1,10,000+ touchpoints across the country. During the quarter, the company signed a Service Provider Agreement with Axis Bank BLS E-services generated leads worth ~Rs. 1,000 Crore in Q1FY25 for Private Banks viz, HDFC & Kotak, as compared to Rs 602 Crore generated for fiscal year 2024 As part of the company’s inorganic initiative during the quarter, the company entered into a definitive Share Purchase Agreement to acquire 55% controlling interest in Aadifidelis Solutions Pvt. Ltd. and its affiliates (ASPL). Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS EServices 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. Demonstrating continued growth, we increased the number of Channel Service Partners (CSPs) and now we have 27,000+ CSPs across the country. This, along with our 1,10,000+ touchpoints aided in generating over 3.5 Crore transactions, with a Gross Transaction Value of more than Rs 20,000 crore during the period. Furthermore, we have signed a Service Provider Agreement (SPA) with Axis Bank and generated leads to the tune of ~Rs 1,000 crore in Q1FY25 for Private Banks viz., HDFC & Kotak, as compared to Rs 602 Crore of leads generated for full fiscal year 2024. 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 openup huge cross-selling opportunities, while expanding our portfolio of citizens-centric last mile banking services. We continue to pursue establishing technology-enabled infrastructure and remain steadfast in our 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.” Result PDF06-08-2024