Matrimony.com Q1 FY27 Results (NSE: MATRIMONY)
Signal: Loss reversed
The read
The operating inflection is clear: consolidated revenue rose 13.2% YoY after only 1.6% growth in Q3FY26 and 7.9% in Q4FY26, while derived EBITDA margin expanded to 17.4% from 8.2%; however, consolidated PAT of ₹19.1 million versus standalone PAT of ₹78.2 million shows that group-level losses or charges still substantially dilute the core matchmaking recovery.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹130.48 Cr | +13.2% | +11.7% |
| EBIT | ₹3.97 Cr | N/A | |
| Net profit | ₹1.91 Cr | N/A | |
| EPS | ₹0.87 | N/A | |
| EBIT margin | 17.4% |
P&L walk
Revenue increased to ₹1,304.8 million (+13.2% YoY; +11.7% QoQ), while employee costs rose only 2.7% YoY and finance costs fell 20.8%, lifting derived EBITDA margin to 17.4% from 8.2%; consolidated PAT nevertheless remained only ₹19.1 million because the statement's profit bridge includes ₹187.8 million of depreciation and ₹21.1 million of other income.
Segments
Matchmaking drove the business with ₹1,295.1 million revenue (+13.6% YoY) and ₹175.0 million segment result versus ₹5.9 million, while Others remained loss-making at negative ₹1.8 million; the much lower consolidated PAT of ₹19.1 million versus standalone PAT of ₹78.2 million signals a material group-level drag outside the standalone operation.
Key positives
- Consolidated revenue reached ₹1,304.8 million, up 13.2% YoY and 11.7% QoQ, accelerating from 1.6% YoY growth in Q3FY26 and 7.9% in Q4FY26.
- Matchmaking added 2.72 lakh paid subscriptions, up 3.7% YoY and 15.9% QoQ, supporting the 13.6% YoY segment-revenue growth.
- Derived consolidated EBITDA margin expanded to 17.4% from 8.2% as revenue grew 13.2% while employee costs rose only 2.7% and other expenses 0.6%.
- Operating cash flow rose to ₹368.9 million from ₹175.6 million, materially exceeding consolidated PAT of ₹19.1 million.
Key concerns
- Consolidated PAT was only ₹19.1 million versus standalone PAT of ₹78.2 million, so the core standalone recovery is not yet translating fully to group earnings.
- Billing grew 7.8% YoY while revenue grew 13.2% YoY, implying that reported revenue growth is materially ahead of billing growth and requires monitoring for sustainability of realisation or mix benefits.
- Other income increased 50.7% YoY to ₹21.1 million and represented a material portion of consolidated pre-tax profit of ₹32.3 million.
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