Matrimony.com (MATRIMONY) Q2 24/25 earnings summary

Executive summary

• Q2 FY25 saw declines in billing and revenue due to seasonality, but profile additions and first payments are rebounding with the onset of the wedding season.

• The company is a market leader in Indian online matchmaking with 1.07 million paid subscriptions in FY24, strong offline presence, and diversified offerings including new digital products and marriage services.

• Zero debt, robust free cash flow, strong return ratios, and a market cap of INR 16,805 Mn as of September 30, 2024.

• Certified as a Great Place to Work and recipient of multiple industry awards for innovation and brand trust.

• Unaudited consolidated and standalone financial results for the quarter and half year ended September 30, 2024, were approved by the Board and reviewed by auditors with unmodified opinions.

Financial highlights

• Q2 FY25 consolidated revenue was INR 1,155 Mn (₹11,550 lakhs), down 5% year-over-year; PAT at INR 132 Mn (₹1,316 lakhs), up 5% year-over-year.

• H1 FY25 revenue at INR 2,361 Mn (₹23,609 lakhs), down 3.6% year-over-year; PAT at INR 271 Mn (₹2,713 lakhs), up 1.5% year-over-year.

• Matchmaking business billing: INR 109.9 crores, down 5.5% QoQ and 4.3% YoY; paid subscriptions: 2.4 lakh, down 6.4% QoQ and 4.9% YoY.

• Marriage services revenue remains a small but growing segment, with ongoing expansion of vendor network and digital offerings.

• Basic EPS (consolidated) for Q2 FY25 was ₹5.91, up from ₹5.63 in Q2 FY24.

Outlook and guidance

• Matchmaking billing expected to return to growth in Q3, but revenue will decline due to muted Q2 billing; both billing and revenue expected to improve in Q4.

• Management continues to focus on customer segmentation, technology innovation, and expanding marriage services, with strategic investments in new products and digital platforms.

• The company is making legal and operational adjustments in response to regulatory and platform changes.