FINANCIAL EXPRESS – Nov 6 – Matrimony.com's revenue increased 1.1% to Rs 93.3 crore ($12.6M) in Q2 FY21 from Q2 FY20. The company reported a jump of 31.2% YOY in net profit to Rs 10.3 crores ($1.4M) for the July-September quarter. The matchmaking business revenue was up by 4.6% YOY to Rs 92.7 ($12.5M) crores while it added 2.1 lakh (210K) paid subscriptions during the quarter, up by 25.7% YOY.
by Sandeep Soni
See full article at Financial Express
DEVDISCOURSE – Sep 28 – Matchmaking service provider Matrimony.com saw its membership grow by 30% during the pandemic, Matrimony.com founder-CEO, Murugavel Janakiraman said. The company is expecting to record double-digit growth in revenues and will invest in products and marketing. According to the company statement, Matrimony.com holds a 60% market share and BharatMatrimony is the flagship brand. For the year ending March 31, 2020, the company reported revenues of Rs 372 crore ($50M) with 7 lakh (700K) subscribers.
TIMESNOWNEWS – Aug 28 – "Impact of increase in billing will translate into revenue growth from Q3 onwards and profits will improve," says, Murugavel Janakiraman, Founder and CEO, Matrimony.com. Weddings have slowed down, but the number of paying users was not impacted.
EQUITY BULLS – Aug 5 – Matrimony.com Limited, the leading online matrimony company, announced its Q1 2020 financial results. Q1 revenue totalled Rs 86.8 crores ($11.6M), down 9% YOY. Net profit grew 38% YOY to Rs 9.4 crores ($1.3M). Murugavel Janakiraman, Chairman and Managing Director said, "We were able to minimize the impact caused by COVID-19 in the quarter and we have returned to a growth trajectory in June.
TIMES OF INDIA – June 8 – Lockdown appears to be the best time to find a 'better-half' as Indian matchmaking sites see a surge in renewals. Matrimony.com has seen more new customers enrolling with 30% growth in April, 2020, compared to previous month. "On the collections side, we grew by 26% and stood at 94 crore in Q4FY20, compared to the previous quarter and by 6% on a yearly basis," said Murugavel Janakiraman, founder and CEO of Matrimony.com. Jeevansathi said its collections grew by 26% (4 crore) in Q4 until mid-March, and added 1 crore in April, 2020.
by Mamtha Asokan
See full article at Times of India
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See the top news on Jeevansathi
ECONOMIC TIMES – May 21 – Online matchmaking service provider Matrimony has recorded consolidated net profits of Rs 6.77 crore ($895K) for the quarter ending March 31, 2020. For the full year ending March 31, 2020 net profits were Rs 29.53 crore ($3.9M, down from Rs 42.45 crore ($5.6M) in 2018-19 fiscal. The revenues for the quarter grew by 4.5% YOY to Rs 94.1 crore ($12.4M) and for the year by 6.7% to Rs 371.8 crore ($50M). The number of paying subscriber is 704K.
MONEYLIFE – May 11 – Matrimony.com Ltd offers a platform for online matchmaking and marriage services, one of the first companies to provide such services in India. It now has a database of 4.38M active profiles. Matrimony has 134 retail centres where customers can walk in and seek the assistance to register on websites or make payment for the matchmaking product. Its flagship brand, BharatMatrimony, has 15 language-based domains under its umbrella. Matchingmaking services makes up 97% of its business revenue. Matrimony also caters in the marriage service industry. The wedding services industry is worth ~$56B in India. The matchmaking and wedding industry has been growing at 20-25% every year. 10-12M marriages take place annually in India. Matrimony's 2019 revenues grew just 4% from Rs335crore ($44M) in FY2018 to Rs348crore ($46M) for FY2019. Matchmaking segment grew 9.49% YOY. Revenues for marriage services declined by 22.7% for the same period. As far as the profitability margins are concerned, Matrimony has been able to increase its operating profit margins since FY2015. Margins have improved from 3% in FY2016 to 14% for FY2019. Matrimony is currently trading at Rs341 ($4.5) which is 65% below its issue price of Rs985 ($13).
OPW – Feb 11 – Match Group's financial results, $2.2B Spent on Dating Apps, Tinder lost Chief Product Officer, New Pew Research Report, Matrimony Acquired Astro-Vision.
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ECONOMIC TIMES – Feb 5 – Indian online matchmaking company Matrimony.com has acquired a 26.1% stake in Astro-Vision, an astrology content and horoscope software provider, for an undisclosed sum. Astro-vision provides Vedic astrology content and offers a software that can generate horoscopes. Matrimony.com said Astro-Vision has generated 110M horoscopes till date. Murugavel Janakiraman, Chairman and Managing Director of Matrimony.com, said astrology was critical to a match on the company website.
by Bharani Vaitheesvaran
See full article at Economic Times
This post also appears on InternetDatingInvestments.com
MATRIMONY.COM – Feb 5 – Matrimony.com, the leading online matrimony company in India, has released its Q3 2019 financial results.
Key financial highlights for the quarter ended December 31, 2019
