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Matrimony.com reports 64% growth in net profit with Rs 19.16cr in Q2FY18

Matrimony.com Limited, which runs BharatMatrimony has posted its first quarterly result for its second quarter FY18 ending September 30, 2017, after its IPO two months ago. The company has posted consolidated revenue of Rs 83.7 crore for the quarter, representing a growth of 13.7 % compared to Rs 73.6 crore the same quarter previous year

Matrimony.com’s reported a consolidated net profit of Rs 19.16 crore, up 64%, as compared to Rs 11.69 crore in Q2FY17. It reported Earnings before Interest, Tax and Depreciation (EBITDA) of Rs 20.6 crore, up 39.5% from Rs 14.8 crore in the same period last year. The EBITDA margin increased to 24.6% as against 20.1% for the corresponding quarter of the previous year.

Segment highlights

Matrimony.com’s service segments include matchmaking, and services like MatrimonyMandaps for wedding venue booking, MatrimonyPhotography for wedding photos and videos; MatrimonyBazaar for wedding related products and services such as jewellery, catering, honeymoon packages etc, and MatrimonyDirectory, which basically works like a listings of contacts of wedding-related service and products providers such as wedding planners, caterers, photographers, venues, jewellery etc.

Matchmaking:  This segment accounts for more than 90% of the revenue of Matrimony.com. The segment posted revenue of Rs 79 crore for Q2FY18, representing a growth of 12% from Rs 70.6 crore in Q2FY17. The company said that the additional tax incidence of 3%, due to implementation of GST has impacted the matchmaking revenue by Rs 0.7 crore. EBITDA for the segment grew by 33.9% to Rs 26.7 crore for the quarter.

Matrimonial Profiles added in Q2FY18: 8.7 lakh, of which 61% were posted by the prospects themselves, 17% by parents and 22% of the profiles were by siblings, relatives, and others.

Marriage Services: The revenues for this segment stood at Rs 4.6 crore as against Rs 3 crore in same quarter last year, representing growth of 52.6%.

Murugavel Janakiraman to step up as Chairman

The company informed in its BSE filings that Murugavel Janakiraman who is currently Managing Director of the company will take over as the Chairman of the Company. Janakiraman is also the founder of the company.

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