Matrimony.com records 75% rise in third qtr consolidated net

: Online marriage service provider Matrimony.com has recorded a 75 per cent rise in its third quarter consolidated net profits at Rs 230.04 million.
The city-based company had registered consolidated net profits at Rs 131.41 million during corresponding period of last year.
"The net profit for the quarter includes the one time receipt of Rs 12.82 crore from CEO of the company Murugavel Janakiraman, towards the obligation he had as per the terms of the agreement between defendants of the litigation in USA," the company said in a statement.
Consolidated net profits for the nine-month period ending December 31, 2017 rose to Rs 570.48 million, from Rs 341.54 million registered during year ago period.

The consolidated total income for the third quarter ending December 31, 2017 went up to Rs 836.63 million from Rs 725.23 million registered during year ago period.
For the nine-month period ending December 31, 2017 the consolidated total income surged to Rs 2,511.50 million from Rs 2,175.05 million registered during year ago period.

"Match-making business witnessed a growth of 16.2 per cent against the corresponding quarter of the previous year in free registrations," Janakiraman said.
With the increased marketing spend in the third quarter, the revenue was expected to improve over the next few quarters, he said.
The match-making segment revenue for the quarter ending December 31, 2017 was at Rs 79.73 crore, as against Rs 69.95 crore registered during year ago period.

The marriage services revenue for the quarter ending December 31, 2017 was at Rs 3.93 crore as against Rs 2.56 crore registered during same period of last year.
Shares of the company were trading at Rs 941.85 apiece upby 1.95 per cent over previous close in BSE.