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Jeevansathi posts operational profit in June quarter this year

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Info Edge’s online matrimonial service Jeevansathi has posted an operational EBITDA profit of Rs 65 lakh for the quarter ended June 30. Info Edge reports Jeevansathi, Shiksha and other  companies together under a separate segment, however the company reported matrimonial site’s performance in a separate notification on the stock exchanges. In the June quarter, the segment posted revenues of Rs 25.77 crore and a loss of Rs 1.97 crore.

Jeevansathi reported revenues of Rs 14.56 crore for the June quarter, showing a growth of 34% year-on-year (YoY) and 8.82% quarter-on-quarter (QoQ). Its headcount at the end of June was 378 and the revenues per employee was Rs 3,85,185.

Mobile continues to be a focus are for Jeevansathi with more than 80% of its sessions coming in from its mobile site or app.

In a call with analysts, Hitesh Oberoi, managing director of the company, said that it wants to dominate the Northern and Western markets.  “So Jeevansathi has always been a strong player in the north. We would actually do almost 0% in the south. So most of our revenue come from north and west. While we are #3 player nationally, we believe that we maybe actually #2 player in the north and west and definitely in the north,” Oberoi explained.

Jeevansathi competes with Matrimony.com and People Interactive’s Shaadi.com. Matrimony is looking to raise Rs 550 crore in an IPO later in November. 

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Info Edge’s results

For the quarter ended June 30, Info Edge reported a net profit after tax (on a standalone basis) of Rs 47.4 crore for the quarter ended June 30, 2016 (Q1 FY17), up 65% from Rs 28.63 crore profit in the same quarter last year. Total income, including other income, increased 16% YoY to Rs 223.6 crore for the quarter. The net sales for the company grew to Rs 197.6 crore for the quarter, up 13.09% from Rs 174.73 crore in the same quarter last year and a down 11.98% from Rs 224.5 crore in the preceding quarter.

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