Matrimony's Net Profit surges 31.2% y/y and 9.6% q/q

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

Murugavel Janakiraman, Chairman and Managing Director said, "Our customer focus initiatives have yielded positive results and achieved a strong billing and volume growth in Q2. Our profitability continues to grow with improved operational efficiency. We are wellpositioned to sustain this momentum in the current dynamic environment through innovation and driving robust execution".

Key financial highlights for the quarter ended September 30, 2020

Consolidated

- Billing at Rs96.6 crores (growth of 18.5% q/q and 9.7% y/y)
- Revenue at Rs93.3 crores (growth of 7.5 % q/q and 1.1% y/y)
- Profit After Tax (PAT)at Rs10.3 crores (growth of 9.6% q/q and 31.2% y/y)

Matchmaking

- Billing at Rs96.2 crores (growth of 18.5% q/q and 13.5% y/y)
- Revenue at Rs92.7 crores (growth of 7.6% q/q and 4.6% y/y)
- Added 2.1 lakhs paid subscriptions during the quarter (growth of 27.8% q/q and 25.7% y/y)

Other highlights

Launched a series of new services and features, in line with Matrimony's focus on innovation and enhancing user experience:

- BharatMatrimony "Prime" - a membership service that offers 100% ID verified profiles

- "Who Can See Me" feature that gives members complete control of who can see their profile and contact them

- Unique "SecureConnect" feature which helps members receive calls from prospects without revealing their mobile number

Shares of Matrimony.com Ltd was last trading in BSE at Rs.670.85 as compared to the previous close of Rs. 656.3. The total number of shares traded during the day was 3744 in over 694 trades.

The stock hit an intraday high of Rs. 685.25 and intraday low of 657.65. The net turnover during the day was Rs. 2526218.

Source : Equity Bulls

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