Please find enclosed herewith Audited Financial Result for March 31, 2020
Awaiting price reaction for this filing.
BLS Infotech Ltd reported audited results for FY20 with total revenue of Rs 21.90 lacs, up about 16% from Rs 18.85 lacs in FY19. The company swung to a marginal net profit of Rs 0.11 lacs in FY20, compared to a net loss of Rs 21.36 lacs in the previous year. Q4 FY20 alone posted a profit of Rs 0.29 lacs versus a loss of Rs 3.97 lacs a year ago. However, the company's reserves remain deeply negative at Rs (304.97) lacs, indicating accumulated losses far exceed equity. Operating cash flow turned negative at Rs (19.98) lacs in FY20, compared to a positive Rs 19.10 lacs in FY19. EPS remains negligible at near zero on a Rs 1 face value share.
While the headline return to profit is positive, the business operates on a very small revenue base with negative reserves and negative operating cash flow, suggesting the company remains financially fragile and dependent on other income to stay afloat. Shareholders should view this as a turnaround story in its very early stages with limited conviction.