Matrimony.com Q2 net surges 63% to Rs 19 cr on higher income

Leading online matrimonial portal, Matrimony.com has reported a 63.8 per cent rise in the consolidated net profit to Rs 19.163 crore for the second quarter ending September 30, 2017.

The city-based firm had registered consolidated net profits at Rs 116.92 million during corresponding period of last year.

For the half-year period ending September 30, 2017 consolidated net profits of the company grew by 62 per cent and stood at Rs 340.43 million as against Rs 210.13 million registered during year ago period.

The company said the net profits for the quarter (ending September 30, 2017) includes the impact of recognition of previously unrecognised net deferred tax assets of Rs 3.25 crore.

Total income for the July-September 2017 period grew to Rs 83.673 crore from Rs 736.13 million registered during year ago period.

For the six month period ending September 30, 2017 total income of the company went upto Rs 1,675.23 million from Rs 1,449.83 million registered during year ago period.

On the company's performance, its Managing Director, Murugavel Janakiraman said the business witnessed a "healthy" double-digit growth with improved EBITDA margins leading to higher cash flows.

The growth in matchmaking revenue coupled with higher operating leverage resulted in the improvement in margin quarter on quarter, a company statement said.

On changes in the board, the company said noted industrialist C K Ranganathan who was serving as the Chairman has "relinquished" the post citing personal commitments.

He will be succeeded by Janakiraman, the release added.