As I write this note the world continues to be besieged by the viruscreating loss of human life and suffering. But true to the indomitable human spirit andadvancements in science and technology the vaccine availability has been a silver liningin the fight against the virus. Businesses have found a way to adapt in the changed worldand continue to stay relevant to all stakeholders and creating a win-win situation. Thecorporate world is socially conscious and doing whatever it can through appropriate forumsto bring about confidence and supporting the community in this uncertain situation. We atMatrimony too have institutionalized several measures to prioritize employee safety andfocus on stakeholder expectations. In FY2021 we donated Rs 50 lakhs to PM-CARES fund andRs 50 Lakhs to the Tamil Nadu Chief Minister's Relief Fund and we have continued suchinitiatives in FY22 considering the second wave that has gripped India.
Crisis is also an opportunity if we leverage it through the rightapproach and thinking. We did this and we have emerged stronger. We adopted an offensiveand defensive i strategy. Offensive is "Invest where it matters" and Defensiveis "Save where possible".
Some of the key initiatives that made a difference were new regionaldomains to improve presence and market share video chats "Who can see me"feature to enhance safety security and privacy launch of innovative packages.
To stress this importance we continued our collaboration with ourbrand ambassador and iconic sportsman MS Dhoni and launched the #As Caring As Familycampaign.
We upgraded our technology infrastructure to enable faster launches andprovide personalized experiences to our customers. As part of our strategy we continue toinnovate on customer segmentation through many experiments to provide the right packageand leverage on AI for faster conversion.
We have become lean and efficient as an organization resulting inrevenue productivity per person improving substantially. This was possible through havingthe right metrics and monitoring systems in place. We are driving a performance-orientedculture across the organization. Towards this initiative we have partnered with PeopleStrong to revamp the HR engine and provide a seamless experience for our people which willbring in immense benefits.
On the matchmaking business performance we were impacted in Q1 due tothe onslaught of the pandemic. However with all the above measures we bounced backstrongly in the last 3 quarters posting 3 consecutive quarters of double-digit Y/Y growth.For the full year our matchmaking billings grew by 7.4% to Rs 383 Cr adding 8.4 lakhs ofpaid subscriptions which is a good growth of about 19% and creating about 100000 successstories. We also witnessed good traction in the competitive North and West markets throughour differentiated strategy. This revenue growth combined with operational efficiencyhelped to improve our Profit After Tax (PAT) by 38% in FY21. This was also despitemarketing expenses increasing to Rs 137 cr in FY21 from Rs 103 cr in FY20.
With regards to the marriage services segment the business impact wassignificant due to the crisis. However we undertook many measures for our brand to bevisible with the introduction of subscription models and doing away with lead /transaction model collaborating with CRISIL for creating trust fresh platform interfacepartner apps etc. We hope to see momentum when the situation improves and add to ourgrowth story as this market has a huge potential. However we have been prudent and wehave contained our losses to about Rs 10 cr as compared to Rs 17 cr in FY20.
When I look back the word that comes to my mind is"Gratitude". Gratitude is a powerful tool to practice in every area of lifewhich can tremendously improve well-being. We are in a business that is purpose driven aswe help our people in one of the most important decisions in the circle of life -"Marriage".
We continue to strive to make this journey enriching for our customersand realize their dreams.
I thank our people and our leadership team who have steered the companywith resilience and executed very well in these testing times. I thank our shareholderscustomers and partners for their continued trust and support throughout our journey. Ithank our distinguished Board for their consistent guidance and pushing us to do better.
I hope and pray that all of us emerge stronger and come back to normaltimes soon and we can consistently achieve "Purpose Led Growth".
With Best Wishes
Chairman and Managing Director