Also, billings in matchmaking increased 8.6 per cent QoQ and 76.9 per cent YoY in Q4FY23 vs 1.6 per cent QoQ and 2.1 per cent YoY in Q3FY23. Paid subscriptions were up about 12 per cent YoY. We believe this indicates improving sentiment and augurs well for revenue growth in FY24. Management guided for over 10 per cent revenue growth and 300bps YoY EBITDA margin improvement in FY24. We upgrade Matrimony to Buy with a revised (increased) target price to ₹700 (from ₹575).

Source: The Hindu May 11, 2023 02:58 UTC