NEW INDIAN EXPRESS – June 11 – As meeting people has become difficult during the lockdown, matrimonial sites have launched video calling and Weddings From Home services. Murugavel Janakiraman, founder and CEO, Matrimony.com, said there has been a 25% increase in the number of registrations on their site during the lockdown and even on a quarter-on-quarter basis, they are reporting double digit growth. According to Adhish Zaveri, Senior Director – Marketing, Shaadi.com, the matchmaking industry has done well in the past year or so. "During the first wave, the engagement on Shaadi.com was up by 30-50% YOY. We also saw a 35-40% uptick in new members signing up."
Category: Matrimony.com
Matrimony Reports Strong Net Profit Growth of 38% in FY21
NEWSPATROLLING – May 11 – Matrimony's fey financial highlights for the quarter ended March 31, 2021:
- Billing at Rs 106.7 crores ($14.5M) (up 10.8% YOY)
- Revenue at Rs 101.1 crores ($13.8M) (up 7.5% YOY)
- Profit After Tax (PAT) at Rs 10.1 crores ($1.4M) (up 49.4% YOY)
Key financial highlights for the year ended March 31, 2021:
- Billing at Rs 385 crores ($52.5M) (up 4.4%)
- Revenue at Rs 377.8 crores ($51.5M) (up 1.6%)
- Profit After Tax (PAT) at Rs 40.8 crores ($5.6M) (up 38%)
by Mahender Bansal
See full article at NewsPatrolling
Matrimony.com Launches Exclusive Matchmaking Service for IIM, IIT Grads
TIMES OF INDIA – Apr 27 – Matrimony.com has launched 'IIMIITMatrimony.com', an exclusive service for finding a life partner who has graduated from premier institutes like the IIMs, IITs and other top universities and colleges from India and abroad.
Matrimony.com Zooms 43% in 2 Days, Scales Fresh Record High
BUSINESS STANDARD – Feb 24 – JP Morgan Asset Management, which holds shares in Matrimony.com, is offloading its stake in the company via open markets through a bulk deal. The stock has surged 362% from its 52-week low of Rs 251 ($3.5) in March 2020. Shares of Matrimony.com hit a record high of Rs 1,160 ($16) after surging 19% on the Bombay Stock Exchange (BSE) on Wednesday. The stock has zoomed 43% in the past two trading days.
Matrimony Q3 Financial Results
APN NEWS – Feb 4 – Matrimony's Key financial highlights for the quarter ended December 31, 2020
- Revenue at Rs 96.7 crores ($13.3M), up 3.6 % q/q and 7.4% y/y
- Profit After Tax at Rs 11 crores ($1.5M), up 7.4% q/q and 96.5% y/y
Matchmaking
- Revenue at Rs 96.2 crores ($13.2M), up 3.8% q/q and 9.6% y/y
- Added 230K paid subscriptions during the quarter, increase by 6.2% q/q and 31.2% y/y
The company has launched new services – RajasthaniMatrimony and BihariMatrimony, and DoctorsMatrimony exclusively for Doctors.
Matrimony.com Launches New Matchmaking Portal Only for Doctors
BUSINESS TODAY – Jan 11 – DoctorsMatrimony.com was launched after Matrimony saw a 40% increase in the number of doctors registering over the past 3 years. Murugavel Janakiraman, Founder and CEO, Matrimony.com, while explaining why they launched an exclusive service for doctors, said, "Most doctors feel the need for a companion who understands their profession and shared values well and that seems possible when the life partner is also a doctor."
Matrimony.com’s Shares Gave 280% Returns in 9 Months
BUSINESS TODAY – Dec 29 – In the last nine months, Matrimony.com shares grew by 280% from its 52-week low of Rs 251 on March 23 to Rs 953 today, despite business disruption caused by the COVID-19 pandemic. The stock has gained 34% so far in December. For July-September quarter, the company reported a jump of 31% YOY in net profit. On the quarter-on-quarter basis, the profit rose by 9.6%.
Homegrown Indian Dating Platforms
Q&A With CEO of Matrimony.com – 20 Years of ‘Happy Marriages’
STIMULUS – Dec 18 – Murugavel Janakiraman has been in the business of online matrimony for two decades. He officially started in 2000 with BharatMatrimony.
Q: What has been the impact of Covid19 on the business?
A: Covid has made us more efficient and lean. It's like when you lose your extra fat and feel fit and energetic.
Q: Digital adoption has increased. We see some conversations leading to marriages on apps like Tinder. How has the ecosystem changed in recent years?
A: There are 60M people looking for a life partner at any given point in time, of which ~7M – 8M are registered with online matrimony sites. So there is definitely headroom to grow. Thanks to Covid and the increased digital adoption, we think the category will grow much more strongly. We don't see dating apps as a challenge. They can remain distant cousins of matrimony sites, for a different set of users and for a different purpose.
Q: Has the number of women listing their own profiles increased?
A: Today, overall number of females registered is ~30%. ~70% of all profiles are created by individuals. 85% of male profiles are created by individuals themselves, while 50% of female profiles are created by the individuals themselves. The remaining 50% would be a mix of parents, siblings and others.
Q: Alongside the growth of the category, the brand has also evolved. Can you walk us through that journey?
A: If you look at our commercials from 15 years ago, they were primarily targeted at parents. Later we realised that we need to target the single individuals. Then we started focusing on what is it that will help people get into a happy marriage. We also realised that women want equality in relationships.
Q: How closely involved are you with the brand's creative process?
A: I am pretty much involved in everything end-to-end, from the scripts to all the discussions.
Q: Early on, you ventured into multiple verticals like jobs, property and automobiles. What was the thinking then and how did the narrowing down happen, to focus on matrimony?
A: In Matrimony, you cannot have a lifelong user. But our users are also using other verticals like jobs and property so we wanted to leverage the strong audience that we had built. In 2008-'09 there was a global recession. We were left with a million or so and were losing Rs.1 to 2 crore a month. We decided to focus on matrimony and property. I had to let go of other businesses. If the ecosystem is what it is today, we would have raised money and we would have probably succeeded.
Within matrimony, we are focusing on matchmaking and wedding services. And within matchmaking, we are now focusing on global opportunities. We are the number one in SriLanka today. We have BangladeshiMatrimony, NepaliMatrimony; we have now also launched MuslimMatrimony.com. We are looking at more opportunities in places like South East Asia.
Matrimony.com Stock Hits Fresh 52-week High
BUSINESS STANDARD – Dec 3 – Shares of Matrimony.com hit a fresh 52-week high of Rs 795, surging 10% on the BSE in the intra-day trade on Thursday. ~500,155 equity shares, representing 2.2% stake of the company, changed hands via bulk deal on the BSE, exchange data show. The names of the buyers and sellers could not be ascertained immediately. Matrimony.com is one of the leading consumer Internet companies in India, managing brands such as BharatMatrimony, CommunityMatrimony and EliteMatrimony. The Company delivers matchmaking and marriage related services to users in India and the Indian diaspora. In the past two weeks, the stock has rallied 27% after SBI Mutual Fund (MF) bought an additional 744,279 shares, or 3.3% stake, in Matrimony.com through its various schemes.