Matrimony.com tumbles after muted Q2 numbers

Matrimony.com dropped 8.74% to Rs 750.10 after the company reported muted Q2FY25 earnings.

On a consolidated basis, the company's billing revenue stood at Rs 111 crore in Q2 September 2024, down 5.5% sequentially and 5.2% year-over-year.

In Q2FY25, net sales were at Rs 115.5 crore, down 4.2% sequentially and 5% year-over-year. Profit After Tax (PAT) stood at Rs 13.2 crore, down 5.8% sequentially but up 5% year-over-year. EBITDA was at Rs 17.5 crore, down 13.1% sequentially and 4.5% year-over-year. EBITDA margins were at 15.2% in Q2FY25, lower than 15.1% in Q2FY24 and 16.7% Q1FY25.

In the matchmaking segment, billing income was at Rs 109.9 crore, down 5.5% sequentially and 4.3% year-over-year. Revenue was Rs 114.3 crore, down 3.7% sequentially and 4.1% year-over-year. The firm added 2.47 lakh paid subscriptions during the quarter, down 6.4% sequentially and 4.9% year-over-year.

Murugavel Janakiraman, chairman and managing director said, "This quarter was muted in terms of revenue growth due to seasonality. We expect to move to positive trajectory in Q3. To leverage on our brand strength and network effects, we have launched new / adjacent businesses. These initiatives have the growth potential in the years to come".

The company launched an App Luv.com in the matchmaking space to address next generation (next-gen) serious relationships. The offering will focus on the theme of "love" before marriage, thereby building a clear differentiation and addressing the market potential in India.

It also launched a new line of business called "ManyJobs.com" to focus exclusively on grey-collar, front- line and entry level jobs. Initial Launch completed for the Tamil Nadu market in both English and Vernacular (Tamil).

Matrimony.com is Indias 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.

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