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May, 27

Matrimony.com Q1 net profit up 17%

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Online matchmaking service provider Matrimony.com posted a 17 per cent year-on-year growth in consolidated net profit for the first quarter at ₹14 crore. The Chennai-based company posted a net profit of ₹12 crore in the same quarter of the previous fiscal. 

Consolidated revenue from operations grew 6 per cent y-o-y to ₹123 crore (₹116 crore). The consolidated billing during the quarter grew 7 per cent to ₹125 crore. Of the total revenue, matchmaking services contributed ₹121 crore while marriage services accounted for about ₹3 crore.

Murugavel Janakiraman, CMD, said the company accelerated profits along with strong cash generation and a fair revenue growth in Q1. 

On a standalone basis, the company’s net profit stood at ₹14 crore (₹13 crore) in Q1FY24.

Shares of Matrimony.com closed 7 per cent higher at ₹706 on the NSE on Wednesday. 





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