Economy

Matrimony reports billing growth of 10.8% y/y in Q1 FY23

New Delhi, August 12th, 2022: Matrimony.com Limited, the leading online matrimony company, announced its unaudited standalone and consolidated financial results for the first quarter ended June 30, 2022, as approved by its board of directors.

Murugavel Janakiraman, Chairman and Managing Director said, “A good start to the year with a double-digit y/y billing growth. It is also heartening to see our paid subscriptions grow 13.8% y/y giving us the confidence that our strategic priorities are making good progress. We will continue to strengthen these focus areas to maintain this momentum”.

Key financial highlights for the quarter ended June 30, 2022

Consolidated

· Billing at Rs 116.5 crores (growth of 1.3% q/q and 10.8% y/y)

· Revenue at Rs 116 crores (growth of 4.9% q/q and 10% y/y)

· Profit After Tax (PAT) at Rs 12 crores (growth of 2.1% q/q and decline of 13.5% y/y)

Matchmaking

· Billing at Rs 114.6 crores (growth of 1.2% q/q and 9.4% y/y)

· Revenue at Rs 114.2 crores (growth of 4.6% q/q and 8.9% y/y)

· Added 2.5 lakhs paid subscriptions during the quarter (growth of 7.2% q/q and 13.8% y/y)

Other highlights

· BharatMatrimony encouraged singles to Be Choosy in new TV campaign that explores the bias against women who want to be choosy when it comes to finding the right life partner

· BharatMatrimony’s “Pehle Padhai Phir Shaadi” – a social initiative to empower girls to choose education over marriage, bagged 14 awards, at the Kyoorius Creative Awards. The awards are a celebration of the most outstanding and innovative work in advertising and marketing communications

About Matrimony.com limited

Matrimony.com is India’s leading consumer Internet Company. It is a signature consumer internet conglomerate, 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 110 self-owned retail outlets across India.

Matrimony.com has also launched Jodii – a vernacular matchmaking service for common people in 10 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 websites and now Jodii.
Safe Harbour
Certain statements in this release could be forward-looking statements on our business. These involve a number of risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. We do not undertake to update any such forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
This article was shared with Prittle Prattle News as a Press Release.
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