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Lycos’s net profit dips 4.32% to Rs 94.68 crore

Hyderabad-based Internet company Lycos (formerly Ybrant Digital) has reported digital marketing revenues of Rs 430.18 crore for the quarter ended June 2017 (Q1 FY18). This represented a rise of 1.73% from the same quarter last year and an increase of 0.12% on a sequential basis. The segment reported a profit before tax of Rs 136.50 crore in the quarter, a dip of 4.49% sequentially and a decrease of 2.14% on a year-on-year basis. Digital marketing contributed 79% to Lycos’ consolidated operational revenue. The company reported consolidated revenue of Rs 538.40 crore for Q1 FY17, a decrease of 1.13% quarter-on-quarter (QoQ) from Rs 544.58 crore, and an increase of 1.23% from Rs 531.83  crore. Consolidated EBITDA for Lycos stood at Rs 163.70 crore increasing 1.76% from Rs 171.52 crore in the same quarter last year. EBITDA decreased 4.56% from Rs 160.87 crore in the preceding quarter. Net profit stood at Rs 94.68  crore decreasing 4.32% from Rs 98.95 crore in the preceding quarter, and increasing of 0.36% Y-o-Y at Rs 94.34 crore. Lycos’s chairman Suresh Reddy said that the focus in Q1 was sstabilizing the ship and lay foundations for solid growth. Software development revenue: Revenue from the software development business (standalone basis) marginally increase with the segment reporting revenue of Rs 108.21 crore in Q1 FY17, from Rs 108.98 crore in the corresponding quarter last year. Operational highlights: Lycos said in its release that it is working on a summer release of a new Web Publishing platform based on the…

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