New Delhi, Feb. 16 -- Brokerage firm Nuvama has given a 'buy' call to BLS International Services, raising the target price from Rs.604 to Rs.637 after the visa service provider announced financial results for the December quarter on February 11.

"Given its in line performance in Q3FY25 and higher-than anticipated margin guidance, we have revised our FY25/FY26 EBITDA estimate upwards by 6% each. Consequently, we raise our SoTP-based TP to INR637 from INR604. Maintain 'BUY'," the brokerage firm said.

The company reported a 43.2% increase in net profit, reaching Rs.121 crore for the third quarter, up from Rs.84.5 crore in the same period last year. The company's operational revenue rose by 17% to Rs.513 crore, compared to Rs.438 crore in t...