OYO Turns Profitable With INR 229 Cr PAT In FY24 As Employee Costs Halve

OYO Turns Profitable With INR 229 Cr PAT In FY24 As Employee Costs Halve

SUMMARY

OYO posted a net profit of INR 229.5 Cr in FY24 as against a net loss of INR 1,286.5 Cr in the previous financial year on reduction in its expenses

However, revenue from operations declined 1.3% to INR 5,388.7 Cr in FY24 from INR 5,463.9 Cr in the previous fiscal year

Total expenditure declined 16% to INR 5,725.7 Cr from INR 6,799.6 Cr in FY23

IPO-bound OYO turned profitable in the financial year 2023-24 (FY24) as it managed to control its expenses by trimming its employee costs. The unicorn posted a net profit of INR 229.5 Cr during the year as against a net loss of INR 1,286.5 Cr in the previous financial year. OYO announced last month that it became profitable in FY24.

However, its operating revenue remained almost flat during the year under review. Revenue from operations stood at INR 5,388.7 Cr in FY24, a decline of 1.3% from INR 5,463.9 Cr in the previous fiscal year, as per its filings with the Ministry of Corporate Affairs.

No results were found for "".
  • «
  • 1
  • »
modal lock

Continue Reading With A Free Inc42 Account

Get the most out of your Inc42 experience by creating a free account. Enjoy personalized recommendations, ad-lite browsing, and access to our exclusive newsletters.