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Matrimony.com net profits increased 75.1% to Rs 23Cr in Q3FY18

Matrimony.com Limited, which runs BharatMatrimony has posted result for its third quarter FY18 (Q3FY18) ending December 31, 2017. The Chennai-based company has posted consolidated revenues of Rs 83.66 crores for the quarter, representing a growth of 15.4% from Rs 72.5 crore in the same quarter of the previous year. The Earnings before Interest, Tax and Depreciation (EBITDA) for the quarter stood at Rs 17.38 crores as against Rs 16.13 crore in the same quarter last year, up 7.8%.

This is company second quarterly results after its IPO in September last year. The company posted net profit of Rs 23 crore, a growth of 75.1% year-on-year (YoY) basis from Rs 13 crore, and up 21% quarter-on-quarter (QoQ) from Rs 19 crore in Q2FY18.

Matrimony said in its statement that the net profit for the quarter includes the one time receipt of Rs 12.82 crore from Mr Murugavel Janakiraman, CEO of the company towards the obligation he had as per the terms of the agreement between defendants of the litigation in USA.

Segment Results

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: Revenues this quarter stood at Rs 80 crores as against Rs 70 crore last year, representing growth of 14%. The matchmaking EBITDA for the quarter grew by 16% at Rs 25 crore as against Rs 21.5 crore previous year in the same quarter.

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Matrimonial Profiles added in Q3FY18: Overall profiles added for quarter were 9.5 lakh as compared to 8.7 lakh last quarter. Of 9.5 lakh, 61% were posted by the prospects themselves, 17% of the profiles were added by parents and 22% of the profiles were by siblings, relatives and others.

Marriage Services: Posted revenues Rs 4 crores, up 53.7% YoY. The EBITDA for the quarter was loss of Rs 5 crore as compared to loss of Rs 3 crore in Q3FY17.

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