Matrimony.com registers 13.7 pct growth

Online matrimonial platform Matrimony.com registered consolidated revenue of Rs. 83.7 Crores for the quarter, thus achieving a growth of 13.7 percent against the corresponding quarter of the previous year.

The earnings before Interest, Tax and Depreciation (EBITDA) for the quarter were at Rs. 20.6 crores as against Rs. 14.8 Crores for the corresponding quarter of the previous year, thus registering a growth of 39.5 percent. The EBITDA margin for the quarter was at 24.6 percent as against 20.1 percent for the corresponding quarter of the previous year.

The company's consolidated Net Profit (Total comprehensive income) for the quarter was at Rs. 18.8 Crores, registering a growth of 61.1 percent against the corresponding quarter of the previous year. The net profit for the quarter includes the impact of recognition of previously unrecognised net deferred tax assets of Rs 3.25 crores.

Overall profiles added for quarter were 8.7 lakhs, of which 61 percent were posted by the prospects themselves, 17 percent of the profiles were added by parents and 22 percent of the profiles were by siblings, relatives and others.

The growth in match making revenue coupled with higher operating leverage has resulted in the improvement in margin quarter on quarter. The marriage services segment is still in the nascent stage and is being nurtured for growth and scale.

During the quarter, the photography service has expanded its operations to Karnataka. The IPO funds received towards the purchase of land and repayment of overdraft facility have been successfully deployed in October'17.

Along with results, the company announced that Vishal V Gupta and Avneet Singh Kochar, who were representing Bessemer and CMDB II, resigned from the Board, consequent to the listing of the Company.

Further, C K Ranganathan relinquished the post of Chairman of the Company due to personal commitments and desires to continue on the Board, as an independent director. Also, Murugavel Janakiraman, Managing Director, will take over as the Chairman of the Company.