OYO Logs First-Ever Profit Of INR 229 Cr In FY24

OYO Logs First-Ever Profit Of INR 229 Cr In FY24

SUMMARY

OYO's profit after tax (PAT) for the fiscal stood at INR 229.57 Cr against the INR 1,286.51 Cr loss it made in the prior fiscal

Its revenue from contracts with customers (revenue from operations) declined a marginal 1.3% to INR 5,388.78 Cr from the INR 5,463.94 Cr it made in FY23

The Ritesh Agarwal-led startup managed to trim its expenses by 13.5% to INR 4,500.97 Cr from the INR 5,207.44 Cr it spent in the fiscal prior

Travel tech major OYO claims to have reported its maiden profitable fiscal for the financial year 2023-24 (FY24) on the back of an increased demand and improved market sentiment. 

According to the company’s annual report, the company’s profit after tax (PAT) for the fiscal stood at INR 229.57 Cr against the INR 1,286.51 Cr loss it made in the prior fiscal. However, its revenue from contracts with customers (revenue from operations) declined a marginal 1.3% to INR 5,388.78 Cr from the INR 5,463.94 Cr it made in FY23. 

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