Latest news with #BLSE-Services
Economic Times
15-05-2025
- Business
- Economic Times
BLS E-Services Q4 Results: Profit rises 59% YoY to Rs 17 crore
Digital services provider BLS E-Services has reported a consolidated profit after tax of Rs 17.3 crore for the fourth quarter ended March 2025, a growth of 58.7 per cent year-on-year. The profit after tax (PAT) was Rs 10.9 crore during the January-March period of 2023-24. ADVERTISEMENT Total income in the quarter nearly tripled to Rs 245.2 crore from Rs 78.7 crore a year ago, the company said in a statement. The growth in income was driven by higher transaction volume and value in BC business and also due to consolidation of Aadifidelis, acquired in November 2024, it said. EBITDA stood at Rs 25.4 crore compared to Rs 16 crore in Q4FY24. PAT for 2024-25 rose to Rs 58.8 crore from Rs 33.5 crore in the previous year. "FY25 marked our highest-ever financial performance, as we surpassed Rs 500 crore milestone in total income during the year, which was reported at Rs 545 crore, a notable YoY growth of 76 per foresee a significant opportunity with the government increasingly outsourcing G2C services to third parties, amidst the growing need for scalability, cost-efficiency and last-mile connectivity.," said Shikhar Aggarwal, Chairman, BLS E-Services. During 2024-25, BLS E facilitated approximately 14 crore transactions translating into a gross transaction value of over Rs 87,000 crore, as compared to 13.4 crore transactions with a gross transaction value of over Rs 72,000 crore in FY24. ADVERTISEMENT During the fourth quarter, the company established partnerships with Canara Bank, Central Bank of India, SBI (for Home Loan Counsellor services), MeraDoc (for Healthcare services), SBI General Insurance, Aditya Birla Health Insurance, and Bajaj Finserv (for EMI Card distribution). BLS E-Services, a subsidiary of BLS International, offers a diverse range of services that encompass Business Correspondent (BC/Rural Banking Outlets) services, Assisted E-services, and E-Governance Services. (You can now subscribe to our ETMarkets WhatsApp channel)
Business Standard
15-05-2025
- Business
- Business Standard
BLS E-Services rallies as Q4 PAT jumps 59% YoY to Rs 17 crore
BLS E-Services zoomed 14.30% to Rs 178.50 after the company's consolidated net profit rallied 58.66% to Rs 17.31 crore in Q4 FY25, compared with Rs 10.91 crore in Q4 FY24. Revenue from operations was at Rs 239.21 crore in the fourth quarter of FY25, skyrocketed 224.83% year on year. Profit before tax added 61.78% to Rs 23.33 crore in Q4 FY25, compared with Rs 14.42 crore in Q4 FY24. EBITDA stood at Rs 25.4 crore in Q4 FY25, up 59.3% YoY. EBITDA margin declined 10.4% in Q4 FY25 as against 20.3% in Q4 FY24. On a full year basis, the companys net profit rallied 75.4% to Rs 58.8 crore on 72.3% rise in revenue from operations to Rs 519.4 crore in FY25 over FY24. Shikhar Aggarwal, Chairman, BLSE- Services, said: We are delighted to report a remarkable performance in FY25, as weachieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 500 crore milestone in total income during the year, whichwas reported at Rs 545 crore, a notable YoY growth of 76%. The successful completion and consolidation of Aadifidelis Solutions Pvt Ltd (ASPL) is another milestone we achieved, whichalso aided to our topline growth. EBITDA and PAT too witnessed a robust growth of 72.5% and75.4% respectively, in FY25. As we move forward, our strategic focus is on enhancing digital infrastructure to improveaccessibility and penetrates new market segments. We foresee a significant opportunitywiththe government increasingly outsourcing G2C services to third parties, amidst the growingneed for scalability, cost-efficiency and last-mile connectivity. The Indian Government is focussed on expanding financial inclusion through schemes like Pradhan Mantri JanDhanYojana, Direct Benefit Transfer and others. Meanwhile, the company recommended final dividend at the rate of 10% on face value i.e. 1.00 per equity share of face value of Rs 10 each on 9,08,56,485 equity shares of the company, for the financial year 2024-25, subject to the approval of the members in ensuing annual general meeting of the company. BLS E-Services, a subsidiary of BLS International, stands as a leading technology-enabled digital service provider in India, offering a diverse range of services that encompass Business Correspondent (BC / Rural Banking Outlets) services, Assisted E-services, and E-Governance Services. These offerings are all geared towards grass-rootsempowerment, revolutionizing how essential services are accessed.
Business Standard
15-05-2025
- Business
- Business Standard
BLS E-Services consolidated net profit rises 28.03% in the March 2025 quarter
Sales rise 224.79% to Rs 239.21 crore Net profit of BLS E-Services rose 28.03% to Rs 13.20 crore in the quarter ended March 2025 as against Rs 10.31 crore during the previous quarter ended March 2024. Sales rose 224.79% to Rs 239.21 crore in the quarter ended March 2025 as against Rs 73.65 crore during the previous quarter ended March 2024. For the full year,net profit rose 67.39% to Rs 52.56 crore in the year ended March 2025 as against Rs 31.40 crore during the previous year ended March 2024. Sales rose 72.27% to Rs 519.35 crore in the year ended March 2025 as against Rs 301.48 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 239.2173.65 225 519.35301.48 72 OPM % 8.1214.79 - 11.6413.87 - PBDT 25.2115.63 61 85.3649.08 74 PBT 23.3314.42 62 79.1445.71 73 NP 13.2010.31 28 52.5631.40 67
Zawya
07-04-2025
- Business
- Zawya
India's business correspondence sector to cross $1.7bln by FY2025: Report
New Delhi: India's Business Correspondent (BC) sector will cross Rs 147 billion by financial year 2025 (FY25), charting an impressive 19 per cent compound annual growth rate (CAGR), said a report by BLS E-Services. As per the report by digital service provider, growth is being driven by the expansion of the Pradhan Mantri Jan Dhan Yojana (PMJDY), deeper penetration of Basic Savings Bank Deposit Accounts (BSBDAs), and the increasing popularity of Direct Benefit Transfer (DBT) schemes that channel subsidies and welfare funds directly to beneficiaries. Business Correspondents are bank-appointed representatives who deliver essential banking services in underserved and remote areas. Functioning on a commission-based model, BCs operate as the extended arm of formal banking institutions, enabling last-mile delivery of financial services. They earn either a fixed fee or a percentage of the transaction value, depending on the type of service provided. According to the report, the industry grew from Rs 47 billion in FY2018 to Rs 102 billion in the financial year 2023 (FY23). The report added that as rural households adopt formal financial services, transaction volumes have spiked, particularly in areas where physical bank branches remain scarce. "With over 1.35 million BC agents operating across India as per PMJDY report, these banking intermediaries are enabling millions of people--especially in rural regions--to access financial services. From cash deposits, withdrawals, and remittances to bill payments, Aadhaar-enabled services, and microfinance lending, BCs have become an essential bridge between formal banking institutions and the underserved population," said Shikhar Aggarwal, Chairman, BLS E-Services. The report further added that the rise in BSBDAs under PMJDY has also contributed significantly to the sector's momentum. As per the report, the number is expected to exceed 550 million by FY2025 from 380 million accounts in 2020. Most of these accounts are held by rural customers, and the majority of transactions--such as benefit disbursals under DBT, cash withdrawals, and remittances--are executed through BCs using Aadhaar authentication. According to Lokanath Panda, COO, BLS E-Services, "The Business Correspondent (BC) industry is projected to grow at a 19 per cent CAGR from FY22 to FY25P, expanding from Rs 102.9 billion to Rs 147.4 billion. Key growth drivers include the expanding rural outreach of BCs, rising BSBDA accounts and deposits, increased transaction volumes, and the growing adoption of government DBT schemes." The report added that the technological integration has further strengthened the BC model. Platforms such as UPI, Aadhaar-enabled Payment Systems (AePS), RuPay, and IMPS, along with mobile banking applications, have made financial transactions more secure and accessible, even in the country's most remote corners. According to NPCI data, over 520 million AePS transactions are already being processed every month, with Business Correspondents playing a pivotal role in this volume. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
06-04-2025
- Business
- Times of Oman
India's business correspondence sector to cross Rs 147 billion by FY2025: Report
New Delhi: India's Business Correspondent (BC) sector will cross Rs 147 billion by financial year 2025 (FY25), charting an impressive 19 per cent compound annual growth rate (CAGR), said a report by BLS E-Services. As per the report by digital service provider, growth is being driven by the expansion of the Pradhan Mantri Jan Dhan Yojana (PMJDY), deeper penetration of Basic Savings Bank Deposit Accounts (BSBDAs), and the increasing popularity of Direct Benefit Transfer (DBT) schemes that channel subsidies and welfare funds directly to beneficiaries. Business Correspondents are bank-appointed representatives who deliver essential banking services in underserved and remote areas. Functioning on a commission-based model, BCs operate as the extended arm of formal banking institutions, enabling last-mile delivery of financial services. They earn either a fixed fee or a percentage of the transaction value, depending on the type of service provided. According to the report, the industry grew from Rs 47 billion in FY2018 to Rs 102 billion in the financial year 2023 (FY23). The report added that as rural households adopt formal financial services, transaction volumes have spiked, particularly in areas where physical bank branches remain scarce. "With over 1.35 million BC agents operating across India as per PMJDY report, these banking intermediaries are enabling millions of people--especially in rural regions--to access financial services. From cash deposits, withdrawals, and remittances to bill payments, Aadhaar-enabled services, and microfinance lending, BCs have become an essential bridge between formal banking institutions and the underserved population," said Shikhar Aggarwal, Chairman, BLS E-Services. The report further added that the rise in BSBDAs under PMJDY has also contributed significantly to the sector's momentum. As per the report, the number is expected to exceed 550 million by FY2025 from 380 million accounts in 2020. Most of these accounts are held by rural customers, and the majority of transactions--such as benefit disbursals under DBT, cash withdrawals, and remittances--are executed through BCs using Aadhaar authentication. According to Lokanath Panda, COO, BLS E-Services, "The Business Correspondent (BC) industry is projected to grow at a 19 per cent CAGR from FY22 to FY25P, expanding from Rs 102.9 billion to Rs 147.4 billion. Key growth drivers include the expanding rural outreach of BCs, rising BSBDA accounts and deposits, increased transaction volumes, and the growing adoption of government DBT schemes." The report added that the technological integration has further strengthened the BC model. Platforms such as UPI, Aadhaar-enabled Payment Systems (AePS), RuPay, and IMPS, along with mobile banking applications, have made financial transactions more secure and accessible, even in the country's most remote corners. According to NPCI data, over 520 million AePS transactions are already being processed every month, with Business Correspondents playing a pivotal role in this volume.
