Matrimony reports strong net profit growth of 38%QjQ

Matrimony.com Limited, the leading online matrimony company, announced its unaudited standalone and consolidated financial results for the first quarter ended June 30, 2020, as approved by its board of directors.

Key financial highlights for the quarter ended June 30, 2020

Consolidated

- Billing at Rs 81.5 crores (decline of 15.3%q/q and 11.7%y/y)
- Revenue at Rs 86.8 crores (decline of 7.8 %q/q and 9.1 y/y)
- Profit After Tax (PAT)at Rs 9.4 crores (growth of 38.1%q/q and 0.4%y/y)

Matchmaking

- Billing at Rs 81.2 crores (decline of 14.3%q/q and 7.5%y/y)
- Revenue at Rs 86.1 crores (decline of 7.3%q/q and 5.4%y/y)
- Added 167,803 paid subscriptions during the quarter

Murugavel Janakiraman, Chairman and Managing Director said, "We were able to minimize the impact caused by COVID-19 in the quarter and we have returned to a growth trajectory in June.With many cost optimization measures,we were able to demonstrate a good growth in profitability. We continue to focus on multiple initiatives across product, campaigns and customer experience that will further enhance our market positioning and growth momentum".

Shares of Matrimony.com Ltd was last trading in BSE at Rs.615 as compared to the previous close of Rs. 602.25. The total number of shares traded during the day was 1156 in over 194 trades.

The stock hit an intraday high of Rs. 615 and intraday low of 587. The net turnover during the day was Rs. 698178.

Source : Equity Bulls

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