Team News Riveting
Mumbai, May 11
Marriages are made in heaven, the proverb points that it is a divine power that ultimately plans or decides who should marry whom and when. Literally, the profit earned by the country’s leading marriage site proves it.
At a time when COVID-19 induced slowdown had severely impacted socio-economy of the country, Matrimony.com Limited, the leading online matrimony company, had reported a strong net profit growth of whopping 38 per cent in the financial year 2020-21. The combat against COVID-19 throughout the last fiscal however did not dither those looking for a good match.
In a major part of the year, there was a lockdown. Even the marriages were solemnised in the presence of limited people. Many proposals were postponed. But the selection of partners however continued amidst pandemic and the business of online marriage match making company registered a gigantic growth when most of the business struggled post lockdown.
Murugavel Janakiraman, Chairman and Managing Director said, “We have sustained our growth momentum in the matchmaking business with three consecutive quarters of y/y double-digit growth in a difficult year. Our leadership team and all our people have stayed focused and delivered very well in these tough times. In these times of uncertainty, we will continue to build on the learnings and enhance our relevance to our customers through our strategic initiatives”.
According to a regulatory filing of the company, the key financial highlights for the year ended March 31, 2021 underlined consolidated billing at Rs 385 crore (growth of 4.4 per cent), revenue at Rs 377.8 crore (growth of 1.6 per cent) and Profit After Tax (PAT) at Rs 40.8 crores (growth of 38 per cent).
