Matrimony.com - Robust Margin Performance In Q1: ICICI Direct
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ICICI Direct Report
Matrimony.com Ltd. is one of the leading provider of online matchmaking services. The company also provides post marriage services.
The company reported robust Q1 FY22 results.
Matrimony.com’s matchmaking revenues increased 4.2% QoQ to Rs 104.9 crore.
In addition, its marriage service increased 19.1% QoQ to Rs 0.6 crore.
Matchmaking margins increased 430 basis points QoQ to 28%.
Marriage services loss was at Rs 2.1 crore.
Matrimony.com has acquired 100% stake in Boatman Tech Pvt Ltd., which does business under the brand ShaadiSaga.
In the current quarter, the company witnessed a decline in billing due to Covid-19 related challenges.
The billing trajectory improved in June after witnessing challenges in April and May. The company has higher percentage of three month billing
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