Matrimony.com Ltd first-half profit rises 147% on margins

Matrimony.com Limited reported net profit of Rs 39.8 crore for 6M FY27, up 146.6% year on year, as matchmaking earnings before interest, tax, depreciation and amortisation (EBITDA) margin increased to 28.3% from 17.3% in 6M FY26 while matchmaking marketing expense declined 0.8%.

Why did Matrimony.com Ltd's first-half profit rise?

Matrimony.com Ltd's first-half profit rose because revenue and segment EBITDA in its matchmaking business increased while reported operating expenses were broadly unchanged. Matchmaking revenue grew 15.7% year on year to Rs 263.4 crore in 6M FY27, whereas operating expenses including marketing increased only 0.3% to Rs 188.8 crore. That combination lifted matchmaking segment EBITDA by 89.2% to Rs 74.7 crore and enterprise EBITDA by 125.9% to Rs 56.6 crore.

The profit increase was larger than the revenue increase because the company also reported a substantial change in enterprise EBITDA and net-profit margins. Enterprise EBITDA margin rose from 10.9% in 6M FY26 to 21.3% in 6M FY27, while net profit margin increased from 7.0% to 14.9%. Segment EBITDA for the full group, including a loss from Marriage Services and others, rose 99.7% to Rs 66.5 crore.

How did Matrimony.com Ltd's matchmaking margins change?

Matrimony.com Ltd's matchmaking EBITDA margin expanded by 11.0 percentage points to 28.3% in 6M FY27 from 17.3% a year earlier. Matchmaking segment EBITDA of Rs 74.7 crore was generated on Rs 263.4 crore of revenue, compared with Rs 39.5 crore on Rs 227.6 crore in 6M FY26. The gap between revenue growth of 15.7% and operating-expense growth of 0.3% accounts for the reported margin movement.

The quarterly trend also showed further margin expansion in the September quarter. Q2 FY27 matchmaking revenue was Rs 133.9 crore, up 17.9% year on year and 3.3% sequentially, while segment EBITDA was Rs 39.8 crore, up 105.0% year on year and 13.9% quarter on quarter. The Q2 matchmaking EBITDA margin reached 29.7%, compared with 17.1% in Q2 FY26 and 26.9% in Q1 FY27.

What happened to Matrimony.com Ltd's subscriptions and transaction values?

Matrimony.com Ltd increased paid subscriptions even as its average transaction value declined. Paid subscriptions during 6M FY27 were 0.57 million, up 14.6% from 0.50 million in 6M FY26, while average transaction value, or ATV, fell 4.5% to Rs 4,625 from Rs 4,841. In Q2 FY27, subscriptions increased 26.6% year on year to 0.30 million, but ATV declined 12.2% to Rs 4,313.

The subscription increase was reflected in matchmaking billings growth, although the latest quarter was lower than the preceding one. Matchmaking billings rose 9.2% year on year to Rs 267.1 crore in 6M FY27, but Q2 billings of Rs 131.1 crore were 3.6% below Q1 FY27's Rs 136 crore. Deferred revenue at the end of Q2 FY27 stood at Rs 102.3 crore, 19.3% above the Rs 85.7 crore reported at the end of Q2 FY26, but 3.3% below Q1 FY27.

How did marketing spending affect Matrimony.com Ltd's profitability?

Matrimony.com Ltd kept marketing expense nearly flat in the first half while reported EBITDA excluding marketing increased. Enterprise marketing expense was Rs 93.5 crore in 6M FY27, down 0.9% from Rs 94.4 crore in 6M FY26, while enterprise EBITDA excluding marketing rose 25.7% to Rs 150.2 crore. The corresponding margin excluding marketing increased to 56.6% from 51.9%.

The matchmaking segment followed the same pattern, with marketing expense falling 0.8% to Rs 91.8 crore in 6M FY27 from Rs 92.5 crore a year earlier. Matchmaking EBITDA excluding marketing increased 26.1% to Rs 166.4 crore, and its margin rose to 63.2% from 58.0%. This segment improvement occurred alongside a larger loss in Marriage Services and others, where segment EBITDA was a Rs 8.1 crore loss in 6M FY27 versus a Rs 6.2 crore loss in 6M FY26.

Conclusion

Matrimony.com Ltd's 146.6% first-half net-profit increase to Rs 39.8 crore coincided with a 15.7% increase in matchmaking revenue, near-flat marketing expenditure and an 11.0-percentage-point expansion in matchmaking EBITDA margin. The result was therefore concentrated in the larger matchmaking segment, whose Rs 74.7 crore of EBITDA offset the Rs 8.1 crore loss from Marriage Services and others.

The disclosed figures leave two operating trends to watch in future updates: paid subscriptions grew 14.6% in 6M FY27, but ATV fell 4.5%, and Q2 matchmaking billings were 3.6% below Q1 FY27. The fact sheet provides no management target or forward operating plan, so subsequent disclosures will show whether the Q2 margin of 29.7% and the subscription increase can continue alongside those billing and ATV movements.