BLS International Services Ltd. Q2 FY27 results

The quarter, explainedfrom the filing and the statements

BLS International Services Ltd. reported revenue of ₹86.9 cr for July to September 2026, +88.5% on the year and +25.7% on the quarter.

Operating profit (EBITDA) was ₹12.2 cr, a margin of 14.1%, +148 bps on the year and +117 bps on the quarter. Operating costs grew +85.4% against revenue growth of +88.5%, so more of each rupee of sales reached operating profit.

Net profit was ₹13.7 cr, +180.4% on the year and −69.6% on the quarter, with earnings per share of ₹0.33.

Of the 6 companies in Consumer Services that have reported Q2 FY27 so far, BLS International Services Ltd. ranks 1st on revenue growth; the sector median is +17.8%. Its margin moved +148 bps on the year against a sector median of +252 bps.

Questions to askeach one with its numbers and source

Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Cash behind the profit, Inventory against sales, Borrowing while holding cash, Related-party transactions, Promoter pledges and allotments, Earlier promises against delivery. The filing did not carry these lines.

Where the profit change came fromSep '25 → Sep '26

Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.

The half year: balance sheet and cashfiled with Q2

Receivables at 53 days of sales (+16 days against the last year end).

From the filingauditor, IPO money, related parties, promoters

Inside the profitother income, one-offs, tax

Other income, line by line

• Interest income (6M consolidated): 30.88 crore (recurring)consolidated cash flow statement p.8
• Dividend income (6M consolidated): 4.00 crore (recurring)consolidated cash flow statement p.8
• Realized gain on sale of investment (6M consolidated): 2.61 crore (recurring)consolidated cash flow statement p.8
• Unrealized gain on mutual fund (6M consolidated): 3.52 crore (recurring)consolidated cash flow statement p.8

Tax: Consolidated tax expense of ₹21.07 crore (current tax ₹22.56 crore, deferred tax credit ₹1.49 crore) on Profit before tax of ₹222.81 crore

Sector vitalsthe numbers this business is run on

Worked out from filed numbers. Visa and Consular Services Revenue: Consolidated segment revenue from Visa and Consular Services (₹50,984.25 lakhs converted to ₹ crore) · Digital Services Revenue: Consolidated segment revenue from Digital Services (₹46,283.57 lakhs converted to ₹ crore) · Visa and Consular Services Segment Result: Consolidated segment profit before interest and tax for Visa and Consular Services (₹20,685.76 lakhs converted to ₹ crore) · Digital Services Segment Result: Consolidated segment profit before interest and tax for Digital Services (₹2,366.38 lakhs converted to ₹ crore)

What management saidquoted, with source

• The Un-audited Standalone and Consolidated Financial Results along with Limited Review Report of the Statutory Auditors thereon for the second quarter and half year ended September 30, 2026 have been considered and approved.press release, outcome letter p.1
• The subsidiary BLS E-Services Limited received an amount of Rs 30,929.29 lakhs being gross proceeds from fresh issue of equity shares.press release, consolidated note 4
• During the quarter ended September 30, 2026, the group has acquired 100% equity share of Atyati Technologies Private Limited for a consideration of Rs. 14,582.69 lakhs net of contingent consideration.press release, consolidated note 5

Segments

Every quartersame rules, every quarter