OYO reported strong financial performance in the third quarter ending December 2024, with revenue reaching ?1,695 crore, a 31% increase from ?1,296 crore in the same period last year. This marks a significant recovery from the flat revenue trends observed in the previous fiscal year. The company’s adjusted EBITDA rose 22% year-on-year to ?249 crore, reflecting its improved operational efficiency. However, the standout figure was the profit after tax (PAT), which surged nearly sixfold to ?166 crore, compared to ?25 crore in Q3 last year.
The company also saw a 33% rise in gross booking value (GBV), reaching ?3,341 crore, according to documents accessed by agencies. These financial figures did not account for OYO’s recent acquisition of G6 Hospitality. A company source noted that while OYO had previously proven its ability to maintain profitability, its revenue growth had been in question. The latest figures, however, show a renewed focus on expanding revenue, with a notable 31% increase in topline performance.
OYO’s growth was driven by strong performance in India and the US, alongside significant contributions from Southeast Asia and the Middle East. The company’s push for premiumization included the acquisition of G6 Hospitality in the US and French rental home firm Checkmyguest. Additionally, Moody’s recently upgraded OYO’s rating from B3 to B2 with a stable outlook, projecting the company’s EBITDA to reach $200 million in the 2025-26 fiscal year, incorporating earnings from its recent acquisitions.
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