Lycos first-quarter profit falls 4.3%

Hyderabad, August 15

Lycos, formerly Ybrant Digital, has reported a decrease in the net profit and revenues in the first quarter ended June 30, 2017.

Its net profit stood at ₹94.68 crore in the quarter as against ₹98.95 crore in the previous quarter, showing a decline of 4.32 per cent.

The revenue too fell by 1.13 per cent to ₹538.40 crore in the quarter as against ₹544.58 crore in the previous quarter. The firm, however, reported marginal increase in the net profit and revenue when compared with the comparable quarter in the previous financial year.

“Our focus this quarter has been to stabilise the ship and lay foundations for solid growth,” Suresh Reddy, Chairman of Lycos, has said.

Revenues from the digital marketing segment remained stagnant at ₹430.18 crore.

“We are going for a summer release of a new web-publishing platform. This will provide more tools and functionality for the users,” he said.

The firm registered a turnover of ₹2,451.32 crore in the last financial year. It firm recently moved its corporate head office to Gachibowli here.

Published on August 15, 2017

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