Matrimony.com second quarter consolidated net drops 30%

By: | Published: November 2, 2018 2:15 AM

Chennai-based online match-making company Matrimony.com has reported a 30% decline in its consolidated net profit at Rs 13.4 crore for the second quarter as against Rs 19.2 crore in the corresponding quarter of the previous year.

 

However, the company has achieved a consolidated revenue of `88.2 crore for the quarter, a growth of 5.4% against Rs 83.7 crore reported in the corresponding quarter of the previous year.

Chennai-based online match-making company Matrimony.com has reported a 30% decline in its consolidated net profit at Rs 13.4 crore for the second quarter as against Rs 19.2 crore in the corresponding quarter of the previous year. The company had incurred higher marketing spend of Rs 5.8 crore against the corresponding quarter of the previous year, impacting its bottomline. However, the company has achieved a consolidated revenue of `88.2 crore for the quarter, a growth of 5.4% against Rs 83.7 crore reported in the corresponding quarter of the previous year.

Murugavel Janakiraman, MD, Matrimony.com, said, “Q2 revenue has been impacted due to seasonality, lower margin is due to higher marketing spend. We will continue to invest additionally in marketing and as a result the Ebitda margin will be lower than the earlier period. Talent pool has been strengthened across the organisation which should result in higher performance in the coming quarters.” Ebitda for the quarter was at Rs 17.4 crore, as against Rs 20.6 crore.
The company, in a statement, said that the overall profiles added for quarter were at 10 lakh, of which 60% were posted by the prospects themselves, 17% of the profiles were added by parents and 23% of the profiles were by siblings, relatives and others. Around 55,000 success stories have been reported to the company in the first half of the current financial year.

The matchmaking segment sales were at Rs 83.5 crore as against Rs 77 crore resulting in a growth of 8.5% while the marriage services revenue was at Rs 2.4 crore as against `4.6 crore. The marriage services segment which is in the nascent stage had operational issues which have been addressed, it said.

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