Matrimony.com margin widens as paid subscribers rise, but ticket values fall
Revenue grew 3.26% sequentially while expenses were nearly flat; other income still accounted for 20.76% of pre-tax profit.
Filed 10 Nov 2026, 15:48 IST · after market close · Matrimony.com Ltd (MATRIMONY)
Key takeaways
- Consolidated operating margin expanded 2.22 percentage points sequentially to 22.35% as revenue grew 3.26% while expenses rose only 0.38%.
- Paid subscribers increased 26.60% year-on-year, but matchmaking average transaction value fell 12.20% to Rs 4,313.
- Other income contributed 20.76% of consolidated pre-tax profit, making earnings quality an important point despite net profit growth of 8.65% sequentially.
Price around the results
Margin improvement led the sequential quarter
Matrimony.com’s consolidated revenue increased 3.26% sequentially, while expenses rose just 0.38%. That operating leverage lifted the margin by 2.22 percentage points and operating profit by 14.66%. Interest expense increased 16.52% and depreciation rose 8.84%, but pre-tax profit still grew 9.11%.
Subscriber growth came with lower transaction value
Management said the company added 0.30 million paid subscribers during the quarter, up 26.60% year-on-year, and reported more than 26,000 success stories. However, management also said matchmaking average transaction value declined 12.20% year-on-year to Rs 4,313. The company told investors that BharatJodii was launched in nine vernacular languages, while IIMIITMatrimony.com and DoctorsMatrimony services were added.
Profit quality and sector comparison
Other income represented 20.76% of consolidated pre-tax profit, so reported earnings were not driven only by operations. The tax rate increased 0.32 percentage points sequentially, meaning the net-profit increase was not flattered by a lower tax rate. Operating margin was 10.93 percentage points above the 11.42% median for 293 reported Consumer Discretionary peers.
No market reaction was available at filing
The consolidated results were filed after market close, so there is no post-results stock reaction to assess. The quarter’s sequential margin direction was positive, but only one preceding quarter is shown, limiting the evidence for a longer-term trend.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹135 cr | ₹131 cr | +3.26% |
| Other income | ₹6 cr | ₹6 cr | -12.36% |
| Expenses | ₹105 cr | ₹104 cr | +0.38% |
| Operating profit | ₹30 cr | ₹26 cr | +14.66% |
| Operating margin (%) | 22.35% | 20.13% | — |
| Interest | ₹1 cr | ₹1 cr | +16.52% |
| Depreciation | ₹7 cr | ₹7 cr | +8.84% |
| Profit before tax | ₹27 cr | ₹25 cr | +9.11% |
| Tax | ₹7 cr | ₹6 cr | +10.59% |
| Net profit | ₹21 cr | ₹19 cr | +8.65% |
| EPS (₹) | ₹10.03 | ₹9.23 | +8.67% |
Operating margin of 22.35% compares with a Consumer Discretionary sector median of 11.42% across 293 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | +4.05% | +3.21% |
Volume on the results session was 36.28× its 20-day average.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- The company reported more than 26,000 success stories in the second quarter of FY27.
- The company added 0.30 million paid subscribers during the quarter, up 26.6% year-on-year.
New products
- BharatJodii was launched in nine vernacular languages.
- The company added IIMIITMatrimony.com and DoctorsMatrimony services.
Competition
- The company states that it has a dominant market share in Southern India.
Problems & risks
- Average transaction value for matchmaking declined 12.2% year-on-year to INR 4,313 in the quarter.
What to watch
- Whether operating margin holds above 22.35% in the next quarter.
- Whether paid-subscriber additions remain comparable with the reported +26.60% year-on-year growth.
- Whether other income’s 20.76% share of pre-tax profit declines.