Hyderabad-based Internet company Lycos (formerly Ybrant Digital) has reported digital marketing revenues of Rs 671.22 crore for the quarter ended December 2016 (Q3 FY17). This represented a rise of 10.15% from the same quarter last year and an increase of 41.85% on a sequential basis.
On a standalone basis the company’s digital marketing segment reported a revenue of Rs 2.64 crore, an increase of 2.7% from Rs 2.57 crore in the previous quarter, and a decrease of 63.7% from Rs 7.28 crore in the same quarter last year. The segment reported a profit before tax of Rs 0.66 crore in the quarter, an increase of 3% from Rs 0.64 crore in the previous quarter and a decrease from Rs 4.1 crore on a year-on-year basis. The consolidated profit before tax of the segment stood at Rs 188.9 crore, a 28.81% increase sequentially, and an increase of 5.35% from the same quarter last year.
Overall, the company reported consolidated revenues of Rs 786.39 crore for Q3 FY17, an increase of 33.62% quarter-on-quarter (QoQ) and 9.48% YoY. Overall, digital marketing revenues contributed 85.35% to Lycos’ consolidated operational revenue.
Software development revenue: Revenue from the software development business (standalone basis) increased marginally, with the segment reporting revenue of Rs 115.1 crore in Q2 FY17, from Rs 108.9 crore in the corresponding quarter last year.
Operational highlights: LYCOS launched the LYCOS Sports app last quarter, which would include news and game reporting on professional sports, specific teams and key players. The company mentions that it is ready to launch an ‘enhanced’ version of the app this quarter.
Wearables: In 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 Phase 2 of the LYCOS Life product is also in the works.