Earnings Call Transcript for Q3FY20
Opening Remarks
On a consolidated basis we achieved Rs.90 Crores of revenue in Q3, which is a decline of2.4% quarter-on-quarter and growth of5.6% year-on-year. Key highlights for the matchmaking business are as follows. In Q3, billing was at Rs.89.5 Crores, a growth of 5.7% quarter-on-quarter and 8.7% year-on-year. Revenue at Rs.87.8 Crores, a decline of 0.9% quarter-on-quarter and a growth of 6.3% year-on-year, 4.38 million active profile as of December 31, 2019, we added 1.2million profiles in the quarter denoting a growth of 29.1% yearon-year. Paid Subscription of 1,73,538 added during the quarter. The average transaction value for the matchmaking business increased by 3.8% quarter-on-quarter and 9.7% year-on-year. We continue to track the impact we create for the customers. We are happy to state we have created about 22,800 success stories in Q3.
Now coming to the marriage services business, the key highlights for Q3 are as follows: billing at Rs.2.4 Crores showed a decline of 29.8% quarter-on-quarter. As explained in our previous quarter's call, we have scaled down the photography business in the current model by not taking additional orders and it impacted to the billing and revenue. As indicated earlier we are working on a revised market place model for photography, which will take effect next quarter. Revenue at Rs.2.2 Crores a decline of 39.6% quarter-on-quarter. The losses are at Rs.4.6 Crores in Q3. This loss will come down next quarter due to scaling down of photography business and will be streamlined from Q1 onwards.
On the growth outlook for Q4, billing momentum of our matchmaking has increased in Q3 and we expect the growth momentum to continue in Q4 as well. Therefore, we expect revenue for matchmaking to bounce back on a quarter-on-quarter basis. This also helps usto set a good growth foundation for FY 21. We expect revenue of marriage service to show a slight decline in Q4 due to scaling down of photography business. I am also happy to inform that we achieved 26.1% stake in Astro-Vision, the promoter of ClickAstro. The 26.1% stake is significantly through the fresh infusion of capital in Astro-Vision. The transaction is subject to customary closing conditions and regulatory approvals.
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