Net loss of the company in the quarter stood at Rs 333 crore. This was also an improvement. Net loss in the previous quarter was Rs 414 crore. Revenues during the first six months of the year increased y-o-y by 24% to Rs 2,905 crore. Average monthly revenue per Oyo Hotel increased y-o-y by 69% to Rs 3.78 lakh.
Oyo is planning for an IPO in 2023. It has already submitted its DRHP with SEBI. Improvement in operational and financial performance in the period leading to its IPO can make its IPO a success.
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