Matrimony.com soars after board OKs Rs 75-cr buyback

Matrimony.com surged 16.53% to Rs 776.85 after the company's board approved share buyback worth Rs 75 crore at price not exceeding Rs 1,150 per share.

The maximum buyback price represents 72.5% premium to the scrip's yesterday's closing price of Rs 666.65.

The company also announced its earnings for the quarter and the year ended on 31 March 2022.

Matrimony.com recorded 15.6% rise in consolidated net profit to Rs 11.7 crore on a 9.4% increase in revenue to Rs 110.6 crore in Q4 FY22 over Q4 FY21. Consolidated billing during the quarter was at Rs 115.1 crore, up 7.9% YoY.

The company's Matchmaking business recorded revenue of Rs 109.1 crore in Q4 FY22, which is higher by 8.4% as compared with Q4 FY21. Billing during the period under review stood at Rs 113.2 crore (up 6.7% YoY). The company added 2.34 lakhs paid subscriptions during the quarter, a growth of 3.1% YoY.

Matrimony.com recorded 31.4% increase in consolidated net profit to Rs 53.6 crore on a 15% rise in revenue to Rs 434.5 crore in FY22 over FY21. Billing in FY22 was Rs 434.4 crore, a growth of 12.9% over FY21.

The board of directors has recommended a final dividend of Rs 5 per equity share.

Murugavel Janakiraman, chairman and managing director, said, "We have demonstrated good growth in FY22 through relentless focus on execution of our strategies and tapping new horizons.

Matrimony.com is a consumer internet company. It is a signature consumer internet conglomerate, managing marquee brands such as BharatMatrimony, CommunityMatrimony and EliteMatrimony. 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 websites, and now Jodii.

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