Matrimony.com, the leading online matrimony company has announced a consolidated Revenue of Rs. 88.2 crores for the quarter, a growth of 5.4% against the corresponding quarter of the previous year
The Board of Directors of Matrimony.com, have approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30th September, 2018.
The company announced its Earnings before Interest, Tax and Depreciation (EBITDA) for the quarter were at Rs. 17.4 crores as against Rs. 20.6 crores for the corresponding quarter of the previous year.
It incurred higher marketing spend of Rs 5.8 crores against the corresponding quarter of the previous year. The gross margin before marketing expenses was at 41.0% as against 40.1% in the corresponding quarter of the previous year. The EBITDA margin for the quarter was at 19.7% as against 24.6% for the corresponding quarter of the previous year. The Company's consolidated Net Profit before Tax for the quarter was at Rs. 18.2 crores, against Rs 18.8 crores the corresponding quarter of the previous year.
The PBT margin for the quarter was at 20.7% as against 22.5% for the corresponding quarter of the previous year. The Income Tax charge in the previous financial year is lower due to availing the carry forward loss and recognition of previously unrecognised net deferred tax assets. The company's consolidated Net Profit after Tax for the quarter was at Rs. 13.4 crores, against Rs 19.2 crores the corresponding quarter of the previous year.
"Q2 revenue has been impacted due to seasonality, lower margin is due to higher marketing spend. We will continue to invest additionally in marketing and as a result the EBITDA margin will be lower than the earlier period. Talent pool has been strengthened across the organisation which should result in higher performance in the coming quarters," said Murugavel Janakiraman, MD.
Matchmaking
Active profiles grew by 12% and the average realisation improved by 4.7% in the current quarter when compared to the corresponding quarter of the previous year. Matchmaking Segment Sales for the current quarter was at Rs.83.5 crores as against Rs.77.0 crores for the corresponding quarter of the previous year resulting in a growth of 8.5%.
Marriage Services
The Marriage Services Revenue for the current quarter was at Rs. 2.4 crores as against Rs. 4.6 crores. The marriage services segment which is in the nascent stage had operational issues which have been addressed. This segment is expected to have a healthy growth from Q3 / Q4 onwards as Q2 is historically a lean quarter for marriage services.
The cash burn for the quarter was Rs. 3.5 crores as compared to Rs. 3.8 crores for the corresponding quarter of the previous year.
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