INC42 - Matrimony.com reported a 7% YOY increase in its Profit After Tax (PAT) for Q2 FY24, amounting to~$1.55M (INR 12.53 Cr). The company saw a slight decline in operating revenue quarter-over-quarter but a 5.86% YOY increase to ~$15M (INR 121.60 Cr). Revenue from matchmaking services, a major contributor to the top line, reached ~ $14.73M (INR 119.16 Cr), marking a 5.95% YOY increase. However, revenue from marriage services slightly decreased. The company's total expenditure for the quarter was ~$13.78M (INR 111.58 Cr), with a significant portion allocated to advertising and promotional activities. Despite some challenges, Matrimony.com continues to innovate, notably revamping its BharatMatrimony platform.
93 posts categorized "Matrimony.com"
Matrimony Q2 PAT Rises 7% YoY to INR 12.53 Cr
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Matrimony.com Posts Q1 Revenue of $15M; Wins Gold at ET Brand Equity Awards
NEWS PATROLLING - Matrimony.com reported its financial results for Q1 ending June 30, 2023. Consolidated billing and revenue were $15.03M and $14.88M, respectively, with Profit After Tax (PAT) at $1.71M. The Matchmaking sector saw revenue at $14.56M. The company also added 280K paid subscriptions during the quarter and won Gold at the ET Brand Equity "Shark Awards" for their 'My AI Valentine' Valentine's Day Campaign.
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Matrimony Reports Q4 Billing Growth of 8.6% Q/Q and 5.1% Y/Y
NEWSPATROLLING - Matrimony.com, a leading online matrimony company, reported Q4 billing growth of 8.6% QOQ and 5.1% YOY. The company's consolidated billing reached INR 121 crores ($15M), while revenue reached INR 114.5 crores ($14M). Profit After Tax (PAT) was INR 11.4 crores ($1.4M). In the matchmaking segment, billing reached INR 117.6 crores ($14M) and revenue reached INR 111.6 crores ($13.6M). The company added 262K paid subscriptions during the quarter. For the year ended March 31, 2023, consolidated revenue was INR 455.8 crores ($55.6M).
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EliteMatrimony Launches Success-Based Matchmaking Service
IND TODAY - EliteMatrimony, part of the Matrimony.com group, has rolled out a premium matchmaking service. Users will pay a minimal monthly charge to get access to a dedicated relationship manager who serves them suitable matches and facilitates introductions. The customer pays success fees only once a match is fixed through EliteMatrimony.
See the top news on Matrimony.com
See the top news on Elite Matrimony
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The Future of Matrimonial Sites in India
MEDIANEWS4U - Matrimony.com's founder and CMD, Murugavel Janakiraman, is reflecting on the future of his company in light of recent reports that Match Group is considering investing in Shaadi.com, an Indian matrimony site, and InfoEdge's acquisition of the dating site Aisle through JeevanSaathi.com. Janakiraman notes that while dating sites have been around in India for about a decade, they haven't generated the expected revenues and have realized that matrimony sites are where the money is. He also observes that women are increasingly taking the decision to marry into their own hands and that the younger generation wants equality in marriages. Janakiraman believes that communication and design are the keys to successful marriages and plans to host webinars for couples to educate them on this. The company is committed to serving its audience and building a long-lasting organization that can evolve beyond the founder's involvement. Matrimony.com also has a growing wedding services business, including Wedding Bazaar and Mandap.com, and recently launched RainbowLuv for the LGBTQIA+ community.
by Gokul Krishnamoorthy
See full article at MediaNews4U
See the top news on Matrimony.com See the top news on Shaadi
See the top news on Jeevansathi See the top news on Aisle
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Matrimony.com Q2 Net Profit Declines 29.3% YoY
MONEY CONTROL - Matrimony.com's revenue during the quarter climbed to Rs 114.9 crore ($14.2M), up 4.5% YOY. The profit dropped by 29.3% YOY to Rs 11.7 crore ($1.4M) in the Q2 of the fiscal year 2022-23 (Q2FY23). Matrimony.com added 242K paid subscriptions during the second quarter, a decline of 3.5% QOQ and a growth of 8.3% YOY.
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Matrimony.com Launches Platform to Serve IT Professionals
THEPRINT - Matchmaking service provider Matrimony.com has launched an exclusive marriage service, techiematrimony.com, to serve information technology and software professionals. Currently, ~500K software professionals are actively looking for a life partner on the Matrimony.com matchmaking services which include BharatMatrimony with 30% of them being women employed as software programmers, project managers, and animators, among others.
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Indian Matchmaking Opens up for LGBT Community
MONEYCONTROL - Eyeing the LGBTQIA+ community, Matrimony.com has launched a platform called RainbowLuv which lets users look for serious relationships unlike casual matches offered by online dating apps. The idea came from a member of the LGBT community who went up to the company's chief product officer at a conference urging them to open up matchmaking for the community. The new platform is similar to their other matrimony apps which let users give detailed information for their profile. In addition, users can specify if they are looking for hook-ups or serious relationships. Then there is government-approved ID verification.
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Matrimony Reports FY 22-23 Q1 Results
MATRIMONY - Q1 revenues were INR 1,160M ($14.6M) which is a 10% YOY growth. The Q1 profit was INR 120M ($1.5M). Paid subscriptions grew by 13.8% and have reached 250K in the quarter. Launched in 2000, BharatMatrimony is the flagship brand of Matrimony.com.
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Matrimony.com Surged 16.53% After Board's Approval of Share Buyback
BUSINESS-STANDARD - The company's board approved a share buyback worth Rs 75 crore ($9.6M) at price not exceeding Rs 1,150 ($14.8) per share. The maximum buyback price represents 72.5% premium to yesterday's closing price. The company also announced its earnings for the quarter and the year ended on 31 March 2022. Q4 Net profit increased 15.6% YOY to Rs 11.7 crore ($1.5M), and revenue increased 9.4% YOY to Rs crore ($14.2M).
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Jodii - a New Vernacular Matrimony App by Matrimony.com
APNNEWS - Matrimony.com, India's leading online matrimony company, launches Jodii, an exclusive vernacular matchmaking app available in Hindi, and 9 other languages including Marathi, Bengali, Punjabi, Gujarati, Tamil & Telugu. All male members are required to verify their profile with a Government Identity proof.
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Matrimony's Growth Momentum Continues in Q3 FY22
EQUITY BULLS - Matrimony.com Limited, the leading online matrimony company, announced its unaudited standalone and consolidated financial results Third quarter Q3 and nine months ended December 31, 2021.
Key financial highlights:
- Revenue at Rs 108.5 crores ($14.4M), decline of 1.3 % q/q and growth of 12.2% y/y
- Profit After Tax at Rs 11.5 crores ($1.5M) (decline of 30.6% q/q and growth of 4.3% y/y)
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Q&A With Founder & CEO of Matrimony.com
EXCHANGE4MEDIA - In the second edition of 'Pride of India Brands 2021' series, Matrimony.com's founder & CEO Murugavel Janakiraman shares his success story. Matrimony.com is India's leading internet conglomerate that manages brands such as BharatMatrimony CommunityMatrimony, EliteMatrimony and Mandap.com.
Q: You were working in the IT sector in the US in the nineties. How and when did the idea of Matrimony take shape?
A: I wanted to do something on my own. Since I came from Tamil Nadu, I thought of doing something for the Tamil community living outside India. The purpose of Matrimony.com is to build a better Bharat with happy marriages.
Q: What were your major challenges?
A: As a bootstrap organization, funding was a big challenge. From 2006 to 2008, I raised ~$20M in two rounds. Almost all this money went into my new ventures. My major challenge was however hiring the talent. People didn't want to be associated with what they call a "marriage bureau". They didn't realize that it is an IT company.
Q: How has the Indian marriage market evolved over the past two decades?
A: Two decades ago, parents were in the driving seat. Today, parents are in the passenger's seat. Online matrimony has empowered women. The pandemic has accelerated digital adoption in India, especially video formats.
Q: Do you have any plans to acquire your competitors?
A: We cover ~60% of the matchmaking space in the country. If there is any opportunity to acquire others, we will surely consider. But we have our own solid plans to grow in the category. We have constantly registered double-digit growth in the past four quarters.
Q: We would like to know your own marriage story.
A: I was looking for a partner who was based in Chennai and had an engineering degree; someone 2-3 years younger to me. These were my preferences. My father-in-law had created a profile for her. My initial correspondence was with my father-in-law. We have been happily married for 21 years.
Q: What are your plans for the expansion?
A: We have expanded our business in Bangladesh and in Sri Lanka. Through MuslimMatrimony.com we are reaching out to Muslim dominant countries like Malaysia.
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Chennai-based Matrimony Enters Bangladesh's Matchmaking Market
THE FINANCIAL EXPRESS - Matrimony, believes that the market has huge potential in the country following societal and lifestyle changes of urban people. BangladeshiMatrimony says it gets ~1,000 clients a day now. It provides round-the-clock call-center service to those who are looking for life partners. Matrimony.com Limited, whose flagship brand is BharatMatrimony, has ~4K employees working at ~20 offices across India.
by Jasim Uddin Haroon
See full article at The Financial Express
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Matrimony.com Q2 Net Profit up 61%
MATRIMONY - Matrimony.com's net profit rose 61.4% YOY at Rs 16.6 crore for the September-ended quarter. Other key financial highlights for Q2: Revenue $14.8M, up 18% YOY. Matrimony added 220K paid subscriptions during the Q2 (growth of 4.4% YOY).
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