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Matrimony.com targets to reach a million paid subscriptions in FY23

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In FY22, Matrimony.com added 8.94 lakh paid subscriptions, an increase of 6.8% over the previous year

Leading consumer internet company Matrimony.com, which manages marquee brands such as BharatMatrimony, CommunityMatrimony and EliteMatrimony, will grow its paid subscription base to over one million customers in the current fiscal, a senior official of the company said.

“We had almost 9 lakh paid transactions in FY22 and we will definitely look to cross one million paid transaction base in the current fiscal,” Murugavel Janakiraman, Chairman and Managing Director, Matrimony.com, said after the company’s Q4FY22 results.

In FY22, Matrimony.com added 8.94 lakh paid subscriptions, an increase of 6.8 per cent over the previous year. The company added 8.4 lakh paid subscriptions in FY21 and 7-lakh paid subscriptions in FY20.

Fourth quarter results

Matrimony.com posted a 15.5 per cent growth in fourth-quarter net profit at ₹11.7 crore as against ₹10.1 crore in the same quarter the previous year. Revenue, on a year-on-year basis, grew by 9.4 per cent to ₹110.6 crore (₹101.1 crore) as of March 2022. Consolidated billing stood at ₹115.1 crore, a growth of 7.9 per cent year-on-year.

The company’s revenue for the full year grew by 15 per cent to ₹434.5 crore (₹377.9 crore) while profit after tax (PAT) grew over 31 per cent to ₹53.6 crore (₹40.8 crore) during the period.

“We expect the growth for next year will be even better than FY22 while the PAT for Q1FY23 will be slightly less on account of marketing expenses and salary cost increase, profit will start getting better from Q2 onwards,” Janakiraman said.

Published on May 13, 2022

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