BLS International Q2 results: Record revenue on Digital Services growth, but can strong earnings revive shares?
BLS International reported record Q2 FY27 revenue of ₹973 crore, up 32% year-on-year, with growth in Visa and Consular Services and Digital Services. H1 revenue rose 28.7% to ₹1,863 crore. Quarterly EBITDA increased 16.6% and profit after tax grew 8.6%.
BLS International Services Limited, a leading global AI and technology-enabled services partner for governments and citizens, announced its financial performance for the quarter and half year ended September 30, 2026, on Tuesday after market hours.The company continued its strong growth trajectory in Q2 and H1 FY27, delivering its highest-ever quarterly revenue of ₹973 crore in Q2 FY27, up 32% year-on-year (YoY), driven by growth across its Visa and Consular Services and Digital Services businesses.Its Visa and Consular Services business maintained steady momentum, with Q2 revenue growing 11.2% YoY to ₹510 crore.
EBITDA also increased 11.2% to ₹214 crore, with a healthy EBITDA margin of 41.9%. The number of visa applications processed during the quarter stood at 10.9 lakh in Q2 FY27. For H1 FY27, the number of applications stood at 22.2 lakh.Revenue from the Digital Services business increased 66.4% YoY to ₹462.7 crore in Q2 FY27, compared with ₹278 crore in Q2 FY26. This growth was primarily driven by strong traction in the business correspondent and loan disbursement businesses.In terms of operating performance, EBITDA increased 16.6% to ₹248 crore, while profit after tax (PAT) grew 8.6% to ₹202 crore.Despite geopolitical and travel-related disruptions in certain markets, the company’s diversified global presence and operational capabilities supported its performance.For the first half of FY27, the company recorded a 28.7% YoY increase in revenue to ₹1,863 crore, while EBITDA grew 20% to ₹500 crore, according to the company’s earnings filing.BLS International expands AI capabilities
During the quarter, the company announced plans to strengthen its AI-led technology ecosystem through investments in automation, secure infrastructure, and strategic partnerships. These initiatives are aimed at driving operational efficiencies, reinforcing data security and enhancing the applicant experience. The company said it had achieved a significant milestone by processing more than 500 million applications across its Visa, Consular, and Citizen Services businesses worldwide.
During the quarter, it was also appraised at CMMI Level 5, supported by internationally recognised ISO certifications and robust governance frameworks. Commenting on the financial performance, Shikhar Aggarwal, Joint Managing Director, said the company remained confident about its growth prospects, supported by its expanding global footprint, established government relationships, technology capabilities, and the growing scale of its digital services business.
He added that the company remained focused on disciplined execution, profitable growth, and long-term value creation for its stakeholders. Shares fall 58% from record high; stock extends losses in 2026 The company’s shares have turned volatile since hitting a fresh all-time high of ₹521 in January 2025 and have since declined 58% to the current trading price of ₹215 apiece. In terms of yearly performance, the stock is down 33% so far in 2026, following a 33.5% decline in 2025.
Nevertheless, the stock’s long-term performance remains strong, with its five-year return standing at 292%, supported by the significant gains accumulated between 2020 and 2024. During this period, the stock rose 282%.Disclaimer: We advise investors to check with certified experts before making any investment decisions.
