Digital marketing solutions company Ybrant Digital, which was rebranded as Lycos Internet last year, has reported digital marketing revenues of Rs 388.7 crore for the quarter ended June 30, 2015, registering an increase of 23.33% from Rs 315.18 crore last quarter, and an increase of 13.95% percent year-on-year (YoY) from 341.12 crore the same quarter last year.
However, the profit before tax for the segment stood at Rs 145.69 crores, a decrease of 1.47% from Rs 147.87 crores last quarter, and a 21.6% increase from Rs 119.81 crore YoY. Overall, the consolidated revenues of the company for Q1-FY16 stood at Rs 498.63 crore, an increase of 12.08% from Rs 444.88 crore the last quarter and an increase of 9.29% YoY from Rs 456.26 crore.
Software development revenues: Revenues from the software development business decreased, with the segment reporting revenues of Rs 109.92 crore for the quarter, down 15.24% from Rs 129.69 crore in the last quarter and a decrease of 4.52% from Rs 115.13 crore the corresponding quarter last year.
Patent Sale: In May, Lycos Internet put up for sale a number of patents it held across segments like search engine technology, online advertising and online gaming among others. Intellectual Property consultation initiative Propeller(y) would help Lycos Internet make the IP portfolio available to the industry for acquisition or licensing.
Lycos had mentioned then that the decision to focus on its IP portfolio was not an attempt to gain entitlement for IP external innovation, but essentially to create a more collaborative relationship with partners and the industry. Apparently, some of the patents held by Lycos have forwards citations in the hundreds and all of them describe technologies that are critically relevant for the online and mobile industries. These also have applications in emerging fields such as Internet of Things.
Wearables launch: The next month, Lycos launched LYCOS Life, a line of wearable devices that included a smart wristband and a finger ring. The devices are priced at $124,99 for the wristband and $59.99 for the ring. The company had said then that five percent of the sales made through its Life initiative, would go towards its non profit organization that aims to provide IoT devices for social causes.
Rebranding: In September last year, Ybrant Digital informed that it intended to consolidate all its media properties and rename the company as Lycos Internet limited. This new entity now has two divisions: Lycos Media, which includes the company’s network of community and social sites, and Ybrant Digital, which looks 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. Note that Ybrant had acquired Lycos from Korea’s Daum Communications for $36 million in an all-cash deal back in August 2010.
Financials: Lycos posted an overall net profit after tax stood at Rs 90.68 crores, an increase of 17.26% QoQ from Rs 77.33 crore, and an increase of 8.55% YoY from Rs 83.53 crores. The total operational revenue was at Rs 498.63 crore, up 12.08% from Rs 444.88 crore last quarter.
Download: Financials (pdf)
Image source: Lycos