Matrimony.com shares hit 20% upper circuit, extend rally for third straight day; check details

Shares of Matrimony.com opened marginally higher at ₹615.05 and rallied as much as 20% to hit a year-high level, extending the rally for the third straight day. Since August 14, shares of the company have gained 21.35% in the last three days.

The stock of the matrimony services provider has seen an upward momentum in the last few months. Over the last six months, Matrimony.com stock has gained over 43% and more than 24.2% this year so far. The stock has rallied over 14% in the past one year.

In its financial results for the quarter ended June, released earlier this month, Matrimony.com reported a nearly flat consolidated net profit at ₹14 core, down 1.4% year-on-year compared to ₹14.2 crore in the year-ago period. However, on a quarter-on-quarter basis, the net profit of the company increased by 19.1% from ₹11.7 crore in Q4FY24. In the June quarter, consolidated operational revenue increased by 2.2% YoY and 1.1% QoQ to ₹120.6 crore. EBITDA increased 5.5% YoY and 18.8% QoQ to ₹20.2 crore in the June quarter.

Matrimony.com added 2.6 lakh new paid customers in the quarter, showing an increase in acquisition.

Commenting on the results, Murugavel Janakiraman, Managing Director and CEO of the company said, “We are strengthening our process and offering in personalised services, which has started showing traction due to ongoing measures such as more visibility of elite matrimony through airport experience centres,” he said.

Matrimony.com was founded in 2000 as a community portal for Indians living and working abroad and has now become the country’s largest matchmaking portal.