MONEY CONTROL - Nov 27 - Revenue in Q2 was Rs. 265 crores ($37M), up 18% YOY. Operating expenses were at Rs. 182.5 crores ($25.8M), up 24% YOY. The increase was largely due to marketing expenses and higher product development costs. Operating EBITDA stood at Rs. 82.5 crores ($11.6M) versus Rs. 88.8 crores ($12.6M) last year, a decrease of 7% YOY. The recruitment business and the real-estate business continue to drive growth this quarter. The company kept innovating and expect to gain share in the long run in Jeevansathi matrimony business. Marketing spends in Jeevansathi led to an increase in registrations and paid transactions. Jeevansathi billings grew by 4.2% YOY in Q2 to Rs. 17.9 crores ($2.5M). Revenue grew 3.7% year-on-year to Rs.18.4 crores ($2.6M). Operating EBITDA losses in Jeevansathi stood at Rs. 7.2 crores ($1M) in Q2 FY19 vs. a loss of Rs. 3.6 crores ($509K) in Q2 FY18. ~90% of users access Jeevansathi from the mobile platform.
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Summarized by the IDEA team
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