Matrimony reports Q4 billing growth of 8.6% q/q and 5.1% y/y Full year billing growth of 5.4%

Matrimony.com Limited, the leading online matrimony company, announced its audited standalone and consolidated financial results for the fourth quarter and year-end as of March 31, 2023, as approved by its board of directors.

Murugavel Janakiraman, Chairman and Managing Director said, “We improved on the quarter-on-quarter momentum.  With our ongoing initiatives, we expect to have a good start in the coming year along with accelerating profits”.

Key financial highlights for the quarter ended March 31, 2023

Consolidated

·        Billing at Rs 121 crores (growth of 8.6% q/q and 5.1% y/y)

·        Revenue at Rs 114.5 crores (growth of 3.7% q/q and 3.6% y/y)

·        

Profit After Tax (PAT) at Rs 11.4 crores (decline of 1.7% q/q and 2.6% y/y)

Matchmaking

·        Billing at Rs 117.6 crores (growth of 8.6% q/q and 3.9% y/y)

·        Revenue at Rs 111.6 crores (growth of 3.6% q/q and 2.3% y/y)

·        Added 2.62 lakhs paid subscriptions during the quarter (growth of 9.9% q/q and 11.8% y/y)

Key financial highlights for the year ended March 31, 2023

Consolidated

·        Billing at Rs 458 crores (growth of 5.4%)

·        Revenue at Rs 455.8 crores (growth of 4.9%)

·        Profit After Tax (PAT) at Rs 46.7 crores (decline of 12.9%)

Matchmaking Business 

·        Billing at Rs 447 crores (growth of 3.9%)

·        Revenue at Rs 446 crores (growth of 3.6%)

·        Added 9.94 lakhs paid subscriptions during the year (growth of 11.1%)

Other highlights

·        Launched Success Fee based matchmaking for Elite Matrimony, where customers can avail services for a minimal service charge.

·        Matrimony.com won an Award from CNBC-TV18 under “Masters of Risk – Service Sector, Small Cap category”.

·        Launched Jodii “Free for Women” campaign where women can access premium features for free (for first 10 contacts).

·        Launched India’s first AI based marketing campaign using ChatGPT & Midjourney on Valentine’s Day, which gained significant traction thanks to its impactful message.

Announcements

·        The Board of Directors, at its meeting held on May 9, 2023, have recommended a final dividend of 100% (Rs 5 per equity share of par value of Rs 5 each), subject to the approval of the Shareholders.

About Matrimony.com limited

Matrimony.com is India’s leading consumer Internet Company managing marquee brands such as BharatMatrimony, CommunityMatrimony and EliteMatrimony.  BharatMatrimony is considered the largest and most trusted matrimony brand which has also established a considerable retail presence with over 100 self-owned retail outlets across India.  Matrimony.com has also launched Jodii – an exclusive matchmaking service for non-graduates, in 9 Indian languages. The Company delivers matchmaking and marriage related services to users in India and the Indian diaspora.  The Company has pioneered several new business models such as WeddingBazaar.com, Mandap.com and CommunityMatrimony.com, a consortium of over 300 community matrimony services.

For more details, visit https://www.matrimony.com

Safe Harbour

Certain statements in this release could be forward-looking statements on our business.  These involve a number of risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements.  We do not undertake to update any such forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.