BharatMatrimony parent’s Q3 profit slips again even as marketing spend continues to shoot up

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Updated: February 16, 2020 2:08:20 PM

Matrimony.com, which competes with Shaadi.com, Jeevansathi etc., runs over 300 community-based and 15 regional matrimony sites.

Matrimony.com has seen a steady decline in its net profit.

Chennai-based Matrimony.com, which owns online matrimony service BharatMatrimony.com and other marriage-related offerings, saw a decline of 16.5 per cent in consolidated net profit to Rs 5.6 crores for Q3 FY20 from Rs 6.7 crore for Q3 FY19. The quarter-over-quarter net profit fall stood at 28.3 per cent from Rs 7.8 crore in Q2 of the current financial year, according to the unaudited results announced by the company. Matrimony.com has seen a steady decline in its net profit from Rs 15.5 crore in Q1 FY19 even as its marketing expenses have continued to increase from Rs 16 crore in Q1 FY19 and Rs 22.2 crore in Q3 FY19 to Rs 27.2 crore in Q3 FY20 — 22.3 per cent rise YoY.

Matrimony.com, which competes with Shaadi.com, Jeevansathi etc., runs over 300 community-based and 15 regional matrimony sites. It operates the business in two verticals — marriage services and matchmaking services. The revenue for the two categories during Q3 FY20 was Rs 2.2 crore and Rs 87.8 crore respectively. The company’s active profiles have grown from 3.59 million in Q3 FY19 to 4.38 million during the quarter ending December FY20 while average transaction value has also gone up from Rs 4,699 to Rs 5,153 during the said period. However, its number of paid subscriptions has remained flat at 1.7 lakh.

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The consolidated billing for Q3 FY20 was at Rs 91.9 crore — up 4.3 per cent quarter-over-quarter and 7.4 per cent YoY. “We have seen good momentum in Q3 matchmaking billings, and we expect to enhance this further.  Our initiatives in product and customer engagement have started to yield improved results that will help us to drive better growth,” said Murugavel Janakiraman, Chairman and Managing Director, Matrimony.com in a statement. Launched in 1997, Matrimony.com is among the earliest online ventures in India when the likes of JustDial, Naukri.com etc were launched in 90s. The company was listed in September 2017.

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