New Delhi, 9 February (IANS). Travel-Tech Unicorn Oyo presented the third quarter results of FY 25 on Sunday. The company has registered a profit of Rs 166 crore in the period from October to December.
The company’s profits have seen an increase of 564 percent on an annual basis, which was Rs 25 crore in the same period of the last financial year.
The company’s income has increased by 31 percent to Rs 1,695 crore in the third quarter of FY 25, which was Rs 1,296 crore in the same period of the previous financial year.
Oyo’s adjusted Ebita in the December quarter was Rs 249 crore. It has seen a 22 percent increase against Rs 205 crore for the third quarter of FY 24.
In the October-December period, the company’s gross booking value (GBV) increased by 33 percent to Rs 3,341 crore on an annual basis, which was Rs 2,510 crore in the same period of the previous financial year.
However, these financial figures do not include the performance of G6 Hospitality, as its acquisition came into effect in the third week of December itself.
The cumulative profit of Oyo in the first nine months of FY 25 has been Rs 457 crore. The company had a loss of Rs 111 crore for the same period of the last financial year.
The reason for the company’s increase in profits was a strong performance in the US and India. At the same time, expansion in South Asia and Middle East has also played an important role.
The company has focused on the premiumization of its hotel portfolio in India and also expanded globally through the acquisition.
It has recently acquired the US-based G6 Hospitality and Paris-based Rental Home Platform Checkmagest.
Global rating agency Moody’s has upgraded its credit rating from B3 to B2 with a stable approach.
Moody’s estimates that the company’s Ebita FY will reach $ 200 million in 2025-26.
-IANS
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