Lycos, a digital marketing services firm formerly known as Ybrant Digital, has registered a revenue of ₹775 crore in the third quarter ended December 31, 2017, a decrease of 1.46 per cent over the revenue in the same quarter previous year.
The profit after tax (PAT) showed a decrease of 2.95 per cent at ₹ 125.34 crore over the PAT in the comparable quarter previous year.
Digital drive
The digital marketing segment formed the bulk of revenues with ₹664 crore, which is slightly lower than that of third quarter of 2016-17.
The software development segment contributed ₹111 crore, a decline of 3.55 per cent over the contribution in the same quarter previous year. “We have launched a new content platform with Tinbu to provide more interesting and engaging content to our users. Our innovations across eGovernance and Blockchain initiative and Lycos media set us up for better prospects,” Suresh Reddy, Chairman and Chief Executive Officer, Lycos, said. Revenues for the nine-month period ended December 31, 2017, stood at ₹1,890 crore against ₹1,906.74 crore in the same period in the previous year.
The PAT for the period fell to ₹321.69 crore (₹329.73 crore) during the period.