LYCOS reports Rs 2,256 crore sales, Rs 405 crore net in FY 2015-16

Global Internet brand, LYCOS, on Monday announced earning a net profit of Rs 405 crore for the financial year 2015-16, reporting a growth of 18.5% over Rs 342 crore earned in the previous fiscal. The Hyderabad-headquartered firm has reported an annual revenue of Rs 2,256 crore during the latest fiscal, up from Rs 1,957 crore in the corresponding financial year.

In a statement, the company said revenues from digital segment grew by 21.8%, while overall revenue grew at 15.3%. The board has recommended a dividend of 5% to shareholders.

During the year under review, the internet brand launched a set of initiatives, including LYCOS Life, a consumer products division for Internet of Things ( IoT).

“Our strong revenue growth reflects the vibrancy of our business, driven by video, mobile and programmatic advertising,” said Suresh Reddy, chairman and CEO of LYCOS. “This was also a year of new beginnings with LYCOS Life, and a few others. We are excited about the opportunities these bring to the franchise.”