Hyderabad-based internet company Lycos has reported digital marketing revenues of Rs 434.46 crores for the financial year ended June 30, 2018 (FY 2019). This represented an increase of 6.33% Q-o-Q and an increase of 0.99% Y-o-Y.
Profit before tax from Digital Marketing Segment was Rs 136.83 Crores, a increase of 11.16% Q-o-Q and an increase of 0.24% Y-o-Y. Revenue from the software development segment was Rs 110.14 crores.
Consolidated revenues for the first quarter were Rs 544.60 crores, an increase of 1.15% Y-o-Y and up 2.66% Q-o-Q. EBITDA for the quarter was Rs 164.59 crores, an increase of 2.59% Q-o-Q and an increase of 0.55% Y-o-Y. PAT for the quarter was Rs 91.24 crores, a decrease of 3.64% Q-o-Q and an increase of 7.28% Y-o-Y.
Lycos renamed to Brightcom Group
The company recently announced that Lycos Internet Limited has changed its name to Brightcom Group Limited. The name change comes as the company’s search engine Lycos was acquired by South Korean seller Daum Global Holdings Corp. Lycos said that the district court of New York granted Daum’s motion to appoint a receiver. It had acquired Lycos Inc. (the subsidiary) from Daum in 2010. This order gives 56% shares of the subsidiary back to Daum, making it the full owner. The revenue contribution from the subsidiary to the company was 4.6% in the last financial year. The profit contribution was 1.2%, and the net worth contribution was 5.6%.