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Matrimony.com posts Rs 16.6 cr net profit in Q4FY18, up 64.3% YoY

Matrimony.com Limited, which runs BharatMatrimony has posted its earnings for fourth quarter FY18 (Q4FY18) ending March 31, 2018. The Chennai-based company has posted consolidated revenues of Rs 84.39 crore for the quarter, representing a YoY growth of 12%. The Earnings before Interest, Tax and Depreciation (EBITDA) for the quarter stood at Rs 19.95 crore as against Rs 15.8 crore in the same quarter last year, up 26.3%.

This is the company’s second quarterly results after its IPO in September last year. The company posted a net profit of Rs 16.6 crore, a growth of 64.3 % on year-on-year (YoY) basis, but down 28% quarter-on-quarter (QoQ) from Rs 23 crore in Q3FY18.

Company’s CEO Murugavel Janakiraman said that the company acquired secondshaadi.com, an exclusive portal for and combined it with its existing portal divorceematrimony.com. “We will continue to invest in brand building in the matrimony segment and expect the revenue to expand in coming quarters,” he said.

For FY18, the company posted revenue of Rs 335.54 crore, representing growth of 14.5% against the corresponding previous year. The EBITDA for the financial year stood at Rs 77.69 crore as against Rs 58.95 crore for the corresponding previous year, a growth of 31.8%. The company’s net profit for the year was at Rs 73.36 crore, up 72.3% against the corresponding previous year. Matrimony.com said in a statement the net profit for the year includes the one-time receipt of Rs 12.82 crore from the CEO towards the obligation he had as per the terms of the agreement between defendants of the litigation in the 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.

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Matchmaking: Revenues this quarter stood at Rs 81.3 crores as against Rs 71.7 crore last year, representing growth of 13.5%. The matchmaking EBITDA for the quarter grew by 22.6% at Rs 26.4 crore as against Rs 21.5 crore the previous year in the same quarter. For FY18, the segment’s revenue stood at Rs 319 crore, up 13.6% as compared to Rs 281 crore in FY17.

Matrimonial Profiles added in Q4FY18: Overall profiles added for quarter were 10 lakh as compared to 9.5 lakh last quarter. Of 10 lakh, 60% were posted by the prospects themselves, 17% of the profiles were added by parents and 23% of the profiles were by siblings, relatives and others.

Marriage Services: Posted revenues Rs 3 crore, up 23.3% YoY as compared to Rs 3.7 crore in the same quarter last year. The EBITDA for the quarter was loss of Rs 5 crore as compared to loss of Rs 4.29 crore in Q4FY18.

The segment posted revenue of Rs 16.3 crores for FY18, representing growth of 36% against Rs 12 crore for the corresponding previous year. The EBITDA for the year was loss of Rs 17 crore as compared to loss of Rs 12.18 crore last year.

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