Hyderabad, May 26 (IANS): Lycos, one of the leading internet brands, has earned a net profit of Rs.342.22 crore during 2014-15 against Rs.220.96 crore in the previous year.

The Hyderabad-based company posted an annual revenue of Rs.1,957 crore against the previous year's revenue of Rs.1,673 crore.

While the overall revenue growth was about 16.95 percent, the digital segment revenues grew by 22.88 percent.

"Results this financial year were very strong. Our teams executed well in building solid revenue streams by aligning relevant technologies around best growth opportunities. We continue to focus on providing a simple yet a powerful internet experience to our users and clients," said Lycos chairman Suresh Reddy in a statement.

He said enhanced search advertising has reported a 12 percent increase in revenue from last quarter.

The NSE and BSE listed company also announced that Lycos Life, a new division focussed on consumer internet products is getting ready for a launch next month.

The division is dedicated to the future of communication and information management in which everyday objects will be connected to the internet, also known as the 'Internet of Things'(IoT).