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

With 27,000 success stories, Matrimony.com sees spurt in revenue
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Chennai: Matrimony.com has achieved a consolidated revenue of Rs. 89.6 crores for the quarter, a growth of 6.8 percent 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 percent.

The EBITDA margin for the quarter was at 23.6 percent and is akin with the corresponding quarter of the previous year; in spite of the increased marketing spend by 14.9 percent 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 percent.

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 match making 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 percent. Free registrations in the current quarter exceeded the one million mark and grew by 13.3 percent over the corresponding quarter of the previous year.

On the overall profiles added for quarter, 60 percent were posted by singles themselves, 17 percent by parents and 23 percent 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. (ANI)