Oyo sees improvement in operational performance in September quarter

29 Nov 2022 , 02:21 PM

Oyo has posted improvement in its operational performance in the September quarter. Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 56 crore in the quarter. This was a significant improvement over the Rs 7 crore that it posted in EBITDA in the previous quarter. 

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.