Matrimony.com Ltd posts net profit of Rs 7.28 crore in Q4

Matrimony.com Ltd, engaged in online matrimony service, Friday said it has clocked net profits at Rs 7.28 crore for the quarter ending March 31, 2019.

The city-based firm in a filing said that for the year ending March 31, the net profit slipped to Rs 43.11 crore from Rs 73.86 crore registered a year ago.

Total income for the January-March 2019 quarter grew to Rs 86.61 crore from Rs 84.36 crore a year ago. For the year ending March 31, the total income was at Rs 350.08 crore as against Rs 335.51 crore registered the same period last year.

Commenting on the financial performance, the company’s chairman and managing director Murugavel Janakiraman said, “Q4 was a robust quarter in terms of billing growth. This will drive revenue momentum in the coming quarter and provide us with a good start to the financial year”

“We are confident of our on-going measures towards customer-centricity will help us deliver an enhanced performance in FY 20,” he said. On the decline in net profits, the company said, “Marketing costs in the quarter (January-March 2019) were Rs 24 crore. This mainly caused the EBITDA and PAT to decline.

These are on-going investments to fuel future growth”. For the financial year ending March 31, marketing costs went up by 44.6 per cent to Rs 81 crore leading to a dip in EBITDA and net profits.

The Board of Directors has recommended a final dividend of 30 per cent (Rs 1.5 per equity share of par value of Rs five each), subject to approval of shareholders.