Oyo, the hospitality company founded by Ritesh Agarwal, has announced its first-ever profitable financial year in FY24, recording a net profit of Rs 100 crore. This marks a significant turnaround from the company's previous financial performance, which included a net loss of Rs 1,287 crore in FY23 and over Rs 13,000 crore at its peak in FY20. Agarwal also revealed that Oyo has recorded eight consecutive EBITDA positive quarters and sees growth ahead not just in India but also in other key markets such as the Nordics, South East Asia, the US, and the UK. The financial figures mentioned are provisional and not yet audited.
🚨 OYO has recorded its first ever profitable financial year in 2023-24 with a net profit of 100 crore. https://t.co/72e4tuSmtX
#Oyo Hotels And Homes Achieves First Profitable Year In FY24 https://t.co/C6Gjlru5ef
Oyo records first-ever net profits: founder https://t.co/o9LCOP4ONW
OYO achieves first-ever profit in FY24, founder Ritesh Agarwal announces global expansion plans These are provisional and not audited nos https://t.co/1mLtY5xZI3 via @moneycontrolcom
#Oyo posts maiden annual net #profit of Rs 100 crore in FY24: founder #RiteshAgarwal https://t.co/l7x0f1yDrr
OYO declared its first profitable FY2023-24, with net earnings reaching nearly Rs 100 crore, according to founder Ritesh Agarwal(@riteshagar). Know more 👇 https://t.co/r3iBzU6NFB #OYO #Travel #Earnings | @oyorooms
🚨Oyo has posted its maiden annual net profit of Rs 100 crore for FY24, its founder Ritesh Agarwal said today. ▶️ The company posted Rs 1,287 crore in net loss in FY23 ▶️He said Oyo has recorded eight consecutive Ebitda positive quarters. https://t.co/jGYFW8WVTQ @ETtech
#OYO reported financial year 2023-24 as the maiden profitable fiscal with a net earning of nearly ₹100 crore, its founder #RiteshAgarwal said. https://t.co/ufXiCegxuY
🚨🚨Significant turnaround at Oyo. The company has closed FY24 with Rs 100 crore in net profit, its founder @riteshagar revealed. For context, the company had a net loss of Rs 1,287 crore in FY23. At its peak in FY20, net loss was over Rs 13,000 crore. https://t.co/uIU0SV2V0H https://t.co/Ej44asqBfa
At Rs 100 crore, #Oyo posts FY24 as maiden profitable fiscal: @riteshagar Agarwal said he sees growth ahead "not just in India" but also in Oyo's other key markets of Nordics, South East Asia, the US and UK. https://t.co/dcBPeiYBNx
🚨 Oyo founder Ritesh Agarwal says that the company has closed FY24 with Rs 100 crore in net profit, according to its provisional financials For context, the company had a net loss of Rs 1,287 crore in FY23. At its peak in FY20, net loss was over Rs 13,000 crore. https://t.co/6m3yEzvSbH