With 27,000 success stories, Matrimony.com sees spurt in revenue

The company's consolidated net profit after tax for the quarter was at Rs. 15.6 crores, against Rs 14.9 crores the corresponding quarter of the previous year.

Published: 11th August 2018 05:11 PM  |   Last Updated: 11th August 2018 05:11 PM   |  A+A-

By ANI

CHENNAI:  Matrimony.com has achieved a consolidated revenue of Rs. 89.6 crores for the quarter, a growth of 6.8 per cent against the corresponding quarter of the previous year. The company's Board of Directors met today and approved the unaudited standalone and consolidated financial results for the quarter that ended on June 30.

The Earnings before Interest, Tax and Depreciation (EBITDA) for the quarter was at Rs. 21.2 crores, as against Rs. 19.7 crores for the corresponding quarter of the previous year; a growth of 7.2 per cent.

The EBITDA margin for the quarter was at 23.6 per cent and is akin with the corresponding quarter of the previous year; in spite of the increased marketing spend by 14.9 per cent QoQ (quarter on quarter). The company's consolidated net profit before tax for the quarter was at Rs. 21.2 crores, against Rs 17.5 crores the corresponding quarter of the previous year; a growth of 21.2 per cent.

The company's consolidated net profit after tax for the quarter was at Rs. 15.6 crores, against Rs 14.9 crores the corresponding quarter of the previous year.

Murugavel Janakiraman, Managing Director, said, "Business is witnessing an intense competition in the northern and in some parts of the western markets. Deep discount on subscription packages and heightened marketing spend by competition in those market has impacted our overall growth in the matchmaking segment."

Matchmaking segment revenue for the current quarter was at Rs.85.9 crores as against Rs. 79.0 crores for the corresponding quarter of the previous year resulting in a growth of 8.8 per cent. Free registrations in the current quarter exceeded the one million mark and grew by 13.3 per cent over the corresponding quarter of the previous year. On the overall profiles added for the quarter, 60 per cent were posted by singles themselves, 17 per cent by parents and 23 per cent were by siblings, relatives and others. Around 27,000 success stories have been reported to the company in Q1 of the current financial year.

The Marriage Services Revenue for the current quarter was at Rs. 3.6 crores as against Rs. 4.9 crores. The marriage services segment which is in the nascent stage had operational issues which have been addressed.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

facebook twitter whatsapp