The Board of Directors of Matrimony.com Limited has approved the unaudited standalone and consolidated financial results for the quarter ended 30th June, 2018.
Matrimony.com, the leading online matrimony company has achieved a consolidated Revenue of Rs. 89.6 Crores for the quarter, a growth of 6.8% against the corresponding quarter of the previous year. 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%. The EBITDA margin for the quarter was at 23.6% and is akin with the corresponding quarter of the previous year; in spite of the increased marketing spend by 14.9% QoQ. The Company’s consolidated Net Profit Before Tax for the quarter was at Rs. 21.2 Crores, against Rs 17.5 Cr the corresponding quarter of the previous year, a growth of 21.2%. The Company’s consolidated Net Profit after Tax for the quarter was at Rs. 15.6 Crores, against Rs 14.9 Cr 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. Company has launched a Mobile App (lite version) with vernacular options in 8 languages in June 18 and is establishing a wholly owned subsidiary in UAE. Coupled with these initiatives and higher marketing spend in the coming quarters; we expect to get back to much healthier growth”.
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%. Free registrations in the current quarter exceeded the one million mark and grew by 13.3% over the corresponding quarter of the previous year. On the overall profiles added for quarter, 60% were posted by singles themself, 17% of the profiles were added by parents and 23% of the profiles were by siblings, relatives and others. Around 27000 success stories have been reported to the Company in Q1 of the current financial year. EBITDA for the quarter was at Rs. 27.7 Crores as against Rs. 26.1 Crores for the corresponding quarter of the previous year. EBITDA margin for the quarter was marginally lower at 32.2% as against 33.1% for the corresponding quarter of the previous year as a result of higher market spends.
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. This segment is expected to have a healthy growth from Q3 onwards as Q2 is historically a lean quarter for marriage services.
The cash burn for the quarter was Rs. 3.1 Crores as compared to Rs. 3.6 Crores for the corresponding quarter of the previous year.
Akila Krishnakumar has been inducted as Additional Independent Director and she has over 30 years of experience in software product development for financial services and education markets world-wide. She also serves on the boards of Nightingales Home health care, Zuari and Gulbarga cements– subsidiaries of Heidelberg cement.
