BLS E-Services Limited, a technology-enabled digital service provider, has announced its financial results for the quarter, showcasing substantial growth in revenue and profitability.

Financial Performance

The company reported a significant increase in its quarterly performance:

BLS E-Services' revenue from operations saw an impressive quarter-over-quarter growth of 39.4%, rising from ₹5,137.40 lakhs in the previous quarter to ₹7,162.90 lakhs in the current quarter.

Half-Yearly Performance

For the half-year period, BLS E-Services reported:

• Revenue increased to ₹12,300.30 lakhs from ₹9,751.80 lakhs in the same period last year, representing a 26.1% year-on-year growth.

Operational Highlights

• The company operates in digital services including e-governance, business correspondent services, and loan distribution.
• Total assets grew to ₹71,708.50 lakhs as of September 30, from ₹70,363.20 lakhs in March.
• BLS E-Services had raised ₹30,829.29 lakhs through a fresh equity issue, with funds allocated for technology infrastructure strengthening and setting up BLS stores for organic growth.

Conclusion

BLS E-Services' latest quarterly results demonstrate the company's ability to significantly expand its revenue base and improve profitability. The substantial growth in revenue from operations, coupled with the increase in net profit, indicates strong market traction. The company's focus on expanding its digital services portfolio and strengthening its technology infrastructure positions it well for future opportunities in the digital services sector.

BLS E-Services Limited , a prominent player in the digital services sector, has released its financial results for the first quarter of fiscal year 2025, along with an update on the utilization of its Initial Public Offer (IPO) proceeds.

Financial Performance

For the quarter ended June 30, 2025, BLS E-Services reported a consolidated revenue from operations of ₹243.99 crore, marking a significant increase from ₹75.35 crore in the same quarter of the previous year. The company's net profit for the quarter stood at ₹17.52 crore, up from ₹12.64 crore year-over-year.

IPO Fund Utilization

The company raised net proceeds of ₹277.75 crore through its IPO conducted from January 29 to February 1, 2024. As of June 30, 2025, BLS E-Services has utilized ₹92.42 crore, representing approximately 33% of the total funds raised. The remaining ₹185.33 crore is currently deployed in fixed deposits with Kotak Mahindra Bank, earning returns between 7.40% to 7.50%.

Allocation of IPO Proceeds

The IPO funds were allocated across four key objectives:

1. Strengthening technology infrastructure: ₹97.59 crore
2. Funding organic growth through BLS Stores: ₹74.78 crore
3. Inorganic growth through acquisitions: ₹28.71 crore
4. General corporate purposes: ₹76.66 crore

Progress on Fund Utilization

The monitoring agency, CRISIL, reported no deviations from the disclosed objects and confirmed that all utilization was in line with the prospectus.

Recent Corporate Actions

In a separate announcement, BLS E-Services' Board of Directors approved the re-appointment of Mr. Rahul Sharma as Executive Director for a three-year term starting June 26, 2026, subject to shareholder approval at the upcoming Annual General Meeting.

Additionally, the company's Nomination and Remuneration Committee approved the grant of 42,000 Employee Stock Options to an eligible employee of a subsidiary company under the "BLS E-Services Employees Stock Option Scheme– 2024". These options, priced at ₹183.21 per stock option, will vest equally over a five-year period.

BLS E-Services Limited continues to focus on its growth strategy, leveraging its IPO proceeds to strengthen its technology infrastructure and expand its market presence in the digital services sector.