Companies

Lycos to explore Internet of Things

Our Bureau Hyderabad | Updated on January 23, 2018 Published on May 26, 2015


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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Published on May 26, 2015
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