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Lycos, formerly Ybrant Digital, will launch two Internet of Things (IoT) products in the first week of June, entering an unchartered terrain.
Chairman and Managing Director Suresh Reddy admitted it is a bold move. “We are going to set up a separate division, Lycos Life, in June. We will be launching a product or two every six months there after,” he told BusinessLine .
The firm posted consolidated revenues of ₹445 crore in the fourth quarter ended March 31, as against ₹408 crore in the comparable quarter last year. The net profit more than doubled to ₹77 crore from ₹35 crore during the period. Consolidated revenue for the financial year was ₹1,957 crore as against ₹1,673 crore in the previous year, showing a growth of 17 per cent. It posted a net profit of ₹342 crore in the year as against ₹221 crore last year.
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