Financial Performance Summary

Q2 FY27 Performance (YoY Comparison):

  • Revenue from Operations: ₹424.4 Crores (vs ₹269.8 Crores in Q2FY26), growth of 57.3%
  • Total Income: ₹428.1 Crores (vs ₹276.0 Crores in Q2FY26), growth of 55.1%
  • EBITDA: ₹32.4 Crores (vs ₹26.3 Crores in Q2FY26), growth of 23.4%
  • Operational EBITDA: ₹28.8 Crores (vs ₹20.0 Crores in Q2FY26), growth of 43.8%
  • Profit after Tax (PAT): ₹20.5 Crores (vs ₹18.3 Crores in Q2FY26), growth of 12.4%

H1 FY27 Performance (YoY Comparison):

  • Revenue from Operations: ₹728.5 Crores (vs ₹513.7 Crores in H1FY26), growth of 41.8%
  • Total Income: ₹737.9 Crores (vs ₹527.2 Crores in H1FY26), growth of 40.0%
  • EBITDA: ₹59.3 Crores (vs ₹51.2 Crores in H1FY26), growth of 15.9%
  • Operational EBITDA: ₹50.0 Crores (vs ₹37.7 Crores in H1FY26), growth of 32.5%
  • Profit after Tax (PAT): ₹39.2 Crores (vs ₹35.8 Crores in H1FY26), growth of 9.4%

Operational Highlights

Business Correspondent Performance:

  • Gross Transaction Value: ₹41,400+ Crores in Q2FY27 (vs ₹27,300+ Crores in Q2FY26)
  • Number of bank tie-ups: 192 in Q2FY27 (vs 144 in Q2FY26)

Network Expansion:

  • Total touchpoints: 188,200+ as of September 30, 2026 (vs 147,000+ as of September 30, 2025)
  • BCs/CSPs: 74,400+ as of September 30, 2026 (vs 45,400+ as of September 30, 2025)
  • Growth driven by integration of Atyati Technologies

New Business Developments:

  • Received empanelment from Punjab & Sind Bank
  • Received empanelment from Chhattisgarh Gramin Bank
  • Strengthened institutional relationships across Business Correspondent network

Management Commentary

Mr. Shikhar Aggarwal, Chairman, highlighted:

  • Strong performance reflecting continued momentum across key businesses
  • Increasing scale of digital and financial inclusion platform
  • Asset-light and scalable business model as key enabler
  • Focus on building broader integrated digital and financial services ecosystem
  • Expansion of network and deepening relationships with banks and financial institutions
  • Enhancement of service portfolio and leveraging cross-selling opportunities
  • Positive growth prospects supported by platform scale, deeper market penetration, and continued addition of institutional relationships
  • Focus on execution, technology, and network expansion to sustain business momentum

Business Model Context

BLS E-Services Limited is a technology-enabled digital service provider offering:

  • Business Correspondent (BC/Rural Banking Outlets) services
  • Loan Disbursement services
  • Assisted E-services
  • E-Governance Services

The company operates through an integrated business model with phygital strategy (physical and digital) to bridge the digital gap in areas with low internet penetration, serving governments (G2C), businesses (B2B), and citizens (B2C) across urban, semi-urban, rural, and remote areas.