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Lycos’ digital marketing revenues up 17.92% QoQ to Rs 458.38 Cr for Q2-FY16

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Digital marketing and Internet solutions company Lycos (earlier Ybrant Digital) has reported revenues worth Rs 458.38 crore for its digital marketing segment in the quarter ended September 30, 2015 (Q2FY16) registering a growth of 33.04% year-on-year from Rs 344.53 crore in the same quarter last year. On a sequential basis, the segment posted a revenue rise of 17.92% from Rs 388.71 crore.

Profit before tax for the segment stood at Rs 162.34 crore, an increase of 11.42% from Rs 145.69 crore in the last quarter, and a 24.05% increase from Rs 130.87 crore in the same quarter last year.

Overall, the consolidated revenues of the company for Q2-FY16 stood at Rs 565.08 crore, an increase of 13.32% from Rs 498.63 crore the last quarter and an increase of 22.79% YoY from Rs 460.19 crore.

Software development revenues: Revenues from the software development business decreased, with the segment reporting revenues of Rs 106.71 crore for the quarter, down 2.93% from Rs 109.93 crore in the last quarter and a decrease of 7.74% from Rs 115.66 crore the corresponding quarter last year.

Other developments

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– In September, Lycos formed a new joint venture with Apollo International to provide solutions to global brands in deploying custom e-commerce platforms targeting Indian consumers.

– Lycos launched an advertising product called Vid-In that helps publishers monetize their inventory and provides a customizable large video player and tailor-made content.

–  Lycos rebranded and  launched 10 new Search verticals including, Business, Economy, Money Matters, Show Biz, Entertainment, Health, Money, Sports, Technology and Travel.

– The company also signed up with Indeed.com to build a job search vertical at www.jobs.lycos.com,  and said it is looking to launch the site before the end of Q4.

Financials: Lycos posted an overall net profit after tax of Rs 105.16 crore, an increase of 15.97% QoQ from Rs 90.68 crore, and an increase of 27.50% YoY from Rs 82.48 crore.

Download: Press release | Financials

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