BLS International Services has given phenomenal returns to investors in the last year, more than tripling investor wealth. The stock surged over 220 percent despite the lockdown across countries on the back of the pandemic. In comparison, the benchmark Nifty rose 60 percent in this period.
The smallcap stock jumped from Rs 43 around a year ago to Rs 139 currently. It has risen over 60 percent in 2021 YTD.
An investment of Rs 10,000 a year ago would have turned to Rs 32,300 currently.
The firm is an online visa application center, servicing individuals, students, families, and others. It outsources services providers for government and diplomatic missions worldwide. It generally partners with embassies and governments.
From Rs 10,000 to nearly a lakh in one year: Did you miss this power stock’s 900% rally?
As per experts, with a lot of countries opening up and others are expected to lift their travel-related restrictions in the coming months, this company will certainly continue to be in focus.
For the March quarter, the firm posted a 162 percent surge in its net profit at Rs 23.51 crore as against Rs 8.96 crore in the year-ago quarter. Sales, however, declined 4.42 percent to Rs 144.56 crore in the quarter under review versus Rs 151.24 crore during the previous quarter ended March 2020.
For the full year FY21, its net profit declined 4.35 percent to Rs 50.15 crore as against Rs 52.43 crore in FY20. Sales also declined 39.15 percent to Rs 478.37 crore in FY21 versus Rs 786.14 crore in FY20.
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Earlier this month, the company said it has resumed accepting visa applications for India, Spain, Brazil, Lebanon, Cyprus, Portugal, and Belarus missions in 70 locations across 32 countries. The company has also resumed accepting visa applications for India in China, Russia, Singapore, and Malaysia, it added.
The company works with over 46 client governments globally and leverages technology and processes that ensure data security.
It has a network of more than 12,000 centers globally with robust strength of over 15,000 employees and associates that provide consular, biometrics, and citizen services.
First Published: IST