BLS International posts record Q2 revenue, but shares remain far below their peak
BLS International reported record Q2 FY27 revenue of Rs.973 crore, up 32% year on year, while profit after tax rose 8.6% to Rs.202 crore, per Moody's.
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what happened
According to Moody's, India-based BLS International Services reported results for the quarter and half year ended September 30, 2026. Second-quarter revenue rose 32% year on year to a record Rs.973 crore, driven mainly by its visa and consular services and digital services units.
The visa and consular business grew revenue 11.2% to Rs.510 crore, with EBITDA of Rs.214 crore and a margin of 41.9%. Digital services revenue jumped 66.4% to Rs.462.7 crore, largely on business correspondent and loan disbursement activity. Group EBITDA rose 16.6% to Rs.248 crore, and profit after tax grew 8.6% to Rs.202 crore.
For the first half, revenue climbed 28.7% to Rs.1,863 crore and EBITDA rose 20% to Rs.500 crore. Meanwhile, the stock, which hit an all-time high of Rs.521 in January 2025, has fallen about 58% to roughly Rs.215 and is down 33% so far in 2026.
why it matters
Strong earnings have not yet pulled the share price back toward its historical highs. The market appears to be weighing the durability of the digital business against geopolitical and travel-related risks the company itself flagged.
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sources
- BLS International Q2 results: Record revenue on Digital Services growth, but can strong earnings revive shares? — Moody's, 3 November 2026 at 19:49 UTC
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