Stock Price Surges After Company Approves Share Buyback surged 16.53% to Rs 776.85 after the company’s board approved share buyback worth Rs 75 crore at price not exceeding Rs 1,150 per share.

The maximum buyback price represents 72.5% premium to the scrip’s yesterday’s closing price of Rs 666.65. The company also announced its earnings for the quarter and the year ended on 31 March 2022. recorded 15.6% rise in consolidated net profit to Rs 11.7 crore on a 9.4% increase in revenue to Rs 110.6 crore in Q4 FY22 over Q4 FY21. Consolidated billing during the quarter was at Rs 115.1 crore, up 7.9% YoY.

The company’s Matchmaking business recorded revenue of Rs 109.1 crore in Q4 FY22, which is higher by 8.4% as compared with Q4 FY21. Billing during the period under review stood at Rs 113.2 crore (up 6.7% YoY). The company added 2.34 lakhs paid subscriptions during the quarter, a growth of 3.1% YoY. recorded 31.4% increase in consolidated net profit to Rs 53.6 crore on a 15% rise in revenue to Rs 434.5 crore in FY22 over FY21. Billing in FY22 was Rs 434.4 crore, a growth of 12.9% over FY21.

The board of directors has recommended a final dividend of Rs 5 per equity share.

Murugavel Janakiraman, chairman and managing director, said, “We have demonstrated good growth in FY22 through relentless focus on execution of our strategies and tapping new horizons.