1. How has business been in the last year for BLS (2020-21) which has been the year of the pandemic so to speak?Despite the challenges and a pessimistic global scenario, we have managed to register healthy financial performance.
This has been possible because our consular and citizen services and banking correspondent business have performed wonderfully well.
During the third quarter, company witnessed a 15% sequential increase in revenues due to improvement in Punjab, Starfin (banking correspondent services being carried under subsidiary) and consular services operations and registered 280 bps improvement in gross margins.In line with our cost cutting measures, our employee costs came down from ₹17.9 crores in Q3FY20 to ₹12.5 crores in.