New Delhi, May 14 (PTI) Visa service provider BLS International Services on Tuesday reported an 11 per cent rise in net profit to Rs 85.5 crore for the March quarter.

The company had posted a profit of Rs 77.7 crore in the year-ago period.

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The company's consolidated revenue remained flat at Rs 447.7 crore for the March quarter in FY24 as against Rs 448.6 crore in the same period a year ago, BLS International Services said in a regulatory filing.

The moderation in revenue growth was due to lower volumes in some key regions, attributed to the Ramadan festival from March 10, 2024 to April 9, 2024, it said.

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The board has recommended a final dividend at the rate of 50 per cent (or 0.50 paise) per equity share of the face value of Re 1 each.

With an interim dividend of Rs 0.50 per share already paid, the total dividend for FY24 stood at Re 1 per share

The board has approved the re-appointment of Shikhar Aggarwal as Joint Managing Director of the company for 3 years with effect from June 17, 2024.

BLS International Services Joint Managing Director Shikhar Aggarwal said, "Our profitability will further be bolstered by our ongoing efforts to transform our business model, reducing dependency on partners, and taking greater control of our operations."

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)