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

Executive summary

• Q2 saw declines in billing and revenue both quarter-over-quarter and year-on-year due to seasonality and challenging quarters, but profile additions and first payments are rebounding with the onset of the wedding season.

• Maintains leadership in Indian online matchmaking with a diversified portfolio and strong brand presence.

• Zero debt, robust free cash flow, and healthy balance sheet support ongoing growth.

• Expanding into marriage services and new digital products to capture broader market opportunities.

• 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 at INR 1,155 Mn (₹11,550 lakhs), down 5.0% year-over-year; matchmaking revenue at INR 1,143 Mn (₹11,426 lakhs), down 4.1% year-over-year.

• Q2 FY25 PAT at INR 132 Mn (₹1,316 lakhs), up 5.0% year-over-year; PAT margin improved to 11.4%.

• Paid subscriptions: 0.25 Mn (2.5 lakh), down 4.9% year-over-year.

• Marriage services billing: INR 1.18 crores, down 2.3% QoQ and 47.6% YoY; revenue: INR 1.24 crores, down 37.2% QoQ and 49.5% YoY.

• Cash balance at INR 3,794 Mn (₹1,575 lakhs consolidated as of September 30, 2024); annualized ROCE at 13%.

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.

• Focus on customer segmentation, micro-market strategies, and continued investment in technology and product innovation.

• Marriage services expected to remain at Q2 levels; profit after tax in Q3 projected to be lower than last year due to investments in new areas.

• Ongoing legal and operational adjustments in response to regulatory and platform changes.