OYO’s Profit After Tax Jumps Nearly 6 Times to ₹166 Crore in Q3
OYO, the popular hospitality company, has reported a significant surge in its profit after tax (PAT) for the quarter ending December. According to the company’s latest financial report, the PAT has jumped nearly six times to ₹166 crore, compared to the ₹25 crore recorded during the same period last year.
The company’s revenue has also seen a significant rise, standing at ₹1,695 crore, which is nearly 31% higher than last year’s ₹1,296 crore. This impressive growth in revenue and profit is a testament to OYO’s continued success in the hospitality industry.
Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the October-December quarter in FY25 stood at ₹249 crore, indicating a significant improvement in the company’s operational efficiency. This significant jump in profit and revenue has been attributed to the company’s strategic initiatives, including its focus on scaling up its business, expanding its presence in new markets, and improving its operational efficiency.
OYO’s impressive financial performance has been driven by its strong growth in the hotel and alternative accommodation segments. The company has been successful in expanding its presence in new markets, including China, Japan, and the United States, and has also strengthened its position in existing markets.
The company’s hotel business has seen significant growth, with a rise of 35% in room nights sold compared to the same period last year. The alternative accommodation segment has also seen a significant increase in bookings, with a growth of 25% compared to the same period last year.
OYO’s focus on technology has been a key driver of its success. The company has been investing heavily in technology, including its proprietary software platform, which enables it to manage its vast network of hotels and alternative accommodations efficiently. The company’s technology platform has enabled it to streamline its operations, improve its customer service, and reduce its costs.
The company’s strong financial performance has also been driven by its focus on cost control. OYO has been successful in reducing its costs, including its marketing expenses, which has helped it to improve its profitability.
OYO’s impressive financial performance has been recognized by the industry, with the company receiving several awards and accolades. The company was named the “Best Hospitality Company” at the recent India Business Awards, and was also recognized as one of the “Top 10 Most Innovative Companies in India” by Forbes.
In conclusion, OYO’s profit after tax has jumped nearly six times to ₹166 crore in Q3, driven by the company’s strong growth in the hotel and alternative accommodation segments, its focus on technology, and its cost control measures. The company’s impressive financial performance is a testament to its continued success in the hospitality industry, and its ability to scale up its business and expand its presence in new markets.
Source: https://www.newsbytesapp.com/news/business/oyo-s-q3-profit-soars-6-fold-to-rs-166cr/story
