Digital marketing solutions company Ybrant Digital which was rebranded as Lycos Internet last year, has reported digital marketing revenues of Rs 493.09 crores for the quarter ended December 31, 2014, registering a significant growth of 43.12% from Rs 344.53 crore last quarter and an increase of 38.74 percent year-on-year (YoY).
The profit before tax for the segment stood at Rs 142.02 crores, an increase of 10.38% from Rs 130.87 crores last quarter, and a 90.01% increase from 75.63 crore YoY. Overall, the consolidated revenues of the company for Q3-FY15 stood at Rs 595.67 crore, an increase of 29.44% from Rs 460.19 crore the last quarter and an increase of 28.83% YoY.
Software development revenues continues to slide
Revenues from the software development business continues to slide, with the segment reporting revenues of Rs 102.58 crore for the quarter, down 11.31% from Rs 115.66 crore in the last quarter and a decrease of 4.11% from the corresponding quarter last year.
Ybrant Digital rebranding: In September last year, Ybrant Digital had informed that it intended to consolidate all its media properties and rename the company as Lycos Internet limited. Note that Ybrant had acquired Lycos from Korea’s Daum Communications for $36 million in an all-cash deal back in August 2010.
This new entity will now have two divisions – Lycos Media that includes the company’s network of community and social sites and Ybrant Digital which will look after the company’s digital marketing business. The company received approval (pdf) for this rebranding from its shareholders and the Registrar of Companies (RoC) in October 2014. The company got listed as Ybrant Digital on BSE in July 2012.
Financials: Lycos posted an overall net profit after tax stood at Rs 98.87 crores, an increase of 19.88% QoQ and 49.14% YoY. The total operational revenue was at Rs 595.66 crore, up from Rs 460.19 crore last quarter. EBIDTA for Q3-FY15 was Rs 163.42 crores, an increase of 16.27% QoQ and an increase of 66.72% YoY.
Download – Financials
Image source – Lycos