Q3FY24 EBITDA at Rs. 10.31 Cr, a growth of 15.65%; EBITDA Margins at 14.4%+
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BLS E-Services Ltd, a technology-enabled digital service provider, providing E-Governance Services, Business Correspondent (BC) Services, and Assisted E-services to the citizens, today announced its unaudited consolidated financial results for the quarter and nine-month period ended 31st December, 2023.
Management Discussion & Analysis of Results
* BLS E-Services reported its maiden quarterly financial results post the listing of its shares on the Indian stock exchanges viz NSE & BSE.
* For the quarter that ended on December 31, 2023, the company’s consolidated revenue stood at INR 71.65 Cr, compared to INR 69.07 Crores in the corresponding previous quarter. Operating EBITDA witnessed a growth of 15.7% to INR 10.31 Crores
* The company’s operating EBITDA margins stood at 14.4%, and expanded by 150 bps. The expansion is primarily driven by an improved business mix
*Given the asset-light nature of the business, the company continues to generate significant returns for its shareholders
* Management continues to focus on Inorganic growth opportunities across various segments of Rural Banking Outlets, E-Governance and E-Services businesses and expect consolidation in these business segments
* BLS endeavors to bid for several contracts & tenders for e-governance services and would be keen to engage with various private and public sector banks for providing business correspondent services to the citizens of India.
Growth Drivers:
* Focus on Organic growth
i. Focus on volume-led growth across the three verticals of Rural Banking Outlets, E- Governance & Assisted E-services
ii. Follow an aggressive strategy to win new government tenders for E-governance business
iii.New tie-ups with financial institutions viz Banks, Insurance companies, NBFC, etc
* Invest in technology to further build robust systems and processes
i. Strengthen our technology infrastructure to develop new capabilities and consolidate our existing platforms
ii. Invest in technologies, infrastructure & manpower to tap exciting possibilities related to digitalization, last-mile penetration & enhanced service experience
* Actively scout for strategic inorganic opportunities, which would provide synergy to the existing businesses, with an objective to maximize shareholder value
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