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).
Category: Matrimony.com
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.
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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
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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.
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.
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.
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.
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).
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.
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)