BLS International inks pact to process Ayushman Bharat Cards; shares hit upper circuit

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Shares of BLS International hit a fresh 52-week high after the company on Wednesday after the company inked pact with the National Health Authority to process the cards issued under AB-PMJAY (Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana) scheme.

The shares were locked in the upper circuit of 10% at Rs Rs 276.40 apiece on the BSE, while the benchmark Sensex advanced 0.81% to 58,720.94.

The AB-PMJAY scheme offers financial security against medical treatment costs, medicines, diagnostics, and pre-hospitalization expenses.

BLS will start processing Ayushman Bharat cards across India for the people to avail healthcare services at any of the empanelled hospitals in their respective regions, effective immediately. The cover includes cashless and paperless access to healthcare services for the beneficiary at the point of service in any of the empanelled hospitals.

Shikhar Aggarwal, joint managing director, BLS International, said, “We are excited to be empanelled to process Ayushman Bharat cards and play an integral role in this initiative. Our deep penetration in Tier-II and Tier-III cities will help the Government of India to service the rural and underserved population of the country. Our reach in rural parts of India and domain expertise will help us in a seamless rollout of the project.”

The Ayushman Bharat scheme was initiated with the objective to provide financial protection and improved access to healthcare to approximately 10.74 crore families. The AB-PMJAY provides a health insurance cover of up to Rs 5 lakhs per family per annum.

BLS International Services is a global tech-enabled services partner for governments and citizens, having an impeccable reputation for setting benchmarks in the domain of visa, passport, consular, citizen, e-governance, attestation, biometric, e-visa and retail services since 2005.

The company reported a consolidated net profit of Rs 20.33 crore in Q1 FY22 as against a net loss of Rs 0.79 crore in Q1 FY21. Net sales during the quarter surged to Rs to Rs 178.53 crore in the quarter ended June 2021 as against Rs 52.14 crore during the previous quarter ended June 2020.