Hyderabad-based Internet company Lycos (formerly Ybrant Digital) has reported digital marketing revenues of Rs 422.85 crore for the quarter ended June 2016 (Q1 FY17). This represented a rise of 8.78% from the same quarter last year and an increase of 16.63% on a sequential basis.
The segment reported a profit before tax of Rs 139.48 crore in the quarter, an increase of 15.22% sequentially and a decrease of 4.27% on a year-on-year basis.
The company reported consolidated revenue of Rs 531.83 crore for Q1 FY17, a increase of 12.22% quarter-on-quarter (QoQ) from Rs 473.91 crore, and an increase of 6.66% YoY from Rs 498.64 crore.
Consolidated EBITDA for Lycos stood at Rs 160.86 crore increasing 4.35% from Rs 154.15 crore in the same quarter last year. EBITDA increased 12.61% from Rs 142.85 crore in the preceding quarter. Net profit stood at Rs 94.34 crore growing 12.27% from Rs 84.03 crore in the preceding quarter.
Software development revenue: Revenue from the software development business (standalone basis) decreased marginally, with the segment reporting revenue of Rs 112.8 crore in Q1 FY17, from Rs 115.78 crore in the corresponding quarter last year.
– Lycos gave an update to its joint venture with Apollo International to build an ecommerce portal. The company has signed a client from the textile business to build an end-to-end ecomemrce portal. It has also deployed a website for Apollo Leathers.
– In February, the company acquired Austria-based TriTelA which owns mysms messenger and the tech platforms SPG Wien and Kika Social. The acquisition is an all stock deal for which Lycos will issue 2.848 crore additional shares in return for 100% ownership.
– In June 2015, Lycos launched Lycos Life, a line of wearable devices that include a smart wristband and a finger ring. The devices are priced at $124.99 for the wristband and $59.99 for the ring. Lycos added that it has started a campaign for advertising the product on Facebook and has started pushing sponsored content.