Lycos Q3 net jumps 49% to Rs 99 cr

Revenues during the quarter under consideration stood at Rs 596 cr

Lycos Limited (formerly Ybrant Digital Limited), a Hyderabad-based digital media company, has witnessed a 49.14 per cent rise in its net profit to Rs 98.87 crore in the third quarter ended December 2014, as against Rs 66.29 crore in the corresponding quarter last year.

Revenues during the quarter under consideration stood at Rs 595.67 crore, as compared with 462.38 crore during the same period a year ago, reflecting a growth of 28.82 per cent. Its earnings before interest, taxes, depreciation and amortisation (EBITDA) was at Rs 163.42 crore, as against Rs 98.02 crore in the comparable quarter last year, an increase of 66.72 per cent.

While the company’s digital marketing business contributed Rs 493.09 crore to the Q3 revenues, a quarter-on-quarter increase of 43.12 per cent, its software development division accounted for Rs 142.02 crore, an increase of 10.38 per cent, quarter-on-quarter.

“The year 2014 was a year of reinvention, and we see 2015 as a year of opportunity. We are moving fast, sharpening our strategic focus on our deliverables with special attention to our organic growth,” said Lycos chairman, Suresh Reddy.

During the third quarter of FY15, Lycos has signed a deal with Goodzer, a local shopping service and a provider of retail content, and a deal with Autoweb Inc, a Miami-headquartered vertical search engine, which combines engaging and informative content with social sharing features.

“These deals will help generate more traffic to Lycos’ owned and operated properties by providing users granular detail and functionality, which helps them make informed decisions. Both these will be launched in the fourth quarter,” Reddy said.

According to the company, development of Lycos Messenger, both for the iOS and Android platforms, is in progress, even as it is in the process of closing deals with some global search engines for enhanced search advertising.

Lycos Limited’s scrip ended the trade at Rs 46.15 on the BSE on Tuesday, down 0.11 per cent, over the previous close of Rs 46.20 a share.