Matrimony reports billing growth of 10.8% y/y in Q1 FY23

 

Matrimony

Hyderabad, August 13th, 2022: Matrimony.com Limited, the leading online matrimony company, announced its unaudited standalone and consolidated financial results for the first quarter ended June 30, 2022, as approved by its board of directors.

Murugavel Janakiraman, Chairman and Managing Director said, “A good start to the year with a double-digit y/y billing growth. It is also heartening to see our paid subscriptions grow 13.8% y/y giving us the confidence that our strategic priorities are making good progress. We will continue to strengthen these focus areas to maintain this momentum”.

Key financial highlights for the quarter ended June 30, 2022

Consolidated

· Billing at Rs 116.5 crores (growth of 1.3% q/q and 10.8% y/y)

· Revenue at Rs 116 crores (growth of 4.9% q/q and 10% y/y)

· Profit After Tax (PAT) at Rs 12 crores (growth of 2.1% q/q and decline of 13.5% y/y)

Matchmaking

· Billing at Rs 114.6 crores (growth of 1.2% q/q and 9.4% y/y)

· Revenue at Rs 114.2 crores (growth of 4.6% q/q and 8.9% y/y)

· Added 2.5 lakhs paid subscriptions during the quarter (growth of 7.2% q/q and 13.8% y/y)

Other highlights

· BharatMatrimony encouraged singles to Be Choosy in a new TV campaign that explores the bias against women who want to be choosy when it comes to finding the right life partner

· BharatMatrimony’s “Pehle Padhai Phir Shaadi” – a social initiative to empower girls to choose education over marriage, bagged 14 awards, at the Kyoorius Creative Awards. The awards are a celebration of the most outstanding and innovative work in advertising and marketing communications

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