Revenue from operations surged 76.7% to Rs 448.63 crore in Q4 FY23 from Rs 253.84 crore recorded in the corresponding quarter previous year. The revenue was mainly driven by strong recovery in visa application volumes and digital services.

Profit before exceptional items and tax climbed 74.88% year on year to Rs 65.16 in the quarter ended 31 March 2023. The company reported an exceptional loss of Rs 22 crore during the quarter.

EBITDA stood at Rs 66.53 crore in Q4 FY23, registering a growth of 89.9% as against Rs 35.04 crore posted in Q4 FY22. EBITDA margin improved to 14.83% in Q4 FY23 as compared to 13.80% registered in the same period a year ago.

Improvement in operational efficiencies offset the rise in cost of services and employee costs, thus boosting EBITDA margins.

On full year basis, the company's consolidated net profit soared 80.4% to Rs 200.76 crore on 78.4% jump in revenue to Rs 1,516.19 crore in FY23 over FY22.

Annualized return on equity stood at 25.4%. The company said that it continually strives to improve this through better asset utilization & cost optimizations, leading to margin improvements.

The firm generated cash from operations of Rs 225 crore during the year, which is the highest ever cash generation. Management is focused on improving cash generation as a key business performance metric. Moreover, the company continued to remain debt-free, BLS International stated.

Meanwhile, the company's board has a recommended final dividend of Rs 0.25 per equity share for FY23, subject to the approval of the members in forthcoming AGM of the company.

BLS International Services is global tech-enabled services partner for governments and citizens. It operates in the domain of visa, passport, consular, citizen, e-governance, attestation, biometric, e-visa, and retail services since 2005. The company works with over 46 client governments including diplomatic missions, embassies & consulates and leverages technology and processes that ensure data security.

Shares of BLS International Services slipped 2.50% to RS 189.10 on the BSE.