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Digital marketing and services company Lycos registered revenues of Rs 532 crore in the quarter ended June 30, an increase of 6.67 per cent over the same quarter last year. The Hyderabad-based firm, listed on the Bombay Stock Exchange, posted a profit of Rs 94 crore.
“We are happy with the performance of the teams this quarter. Benefits of the formation of Brightcom and other strategic moves are trickling in. We expect this to pick up steam in the coming quarters,” Suresh Reddy, Chairman, Lycos, said, commenting on the first-quarter results.
The firm has roped in KPMG to advise it on the transition to the implementation of the Indian Accounting Standards (Ind-AS) from this financial year.
Revenue from the digital marketing segment for the quarter stood at Rs 423 crore, an increase of 8.7 per cent over the same quarter last year.
EBIDTA for the quarter was put at Rs 161 crore, an increase of 4.35 per cent in the comparable quarter last year.
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