OYO's Profitable Quarter: A Turnaround Story

The travel tech platform OYO reported a profit after tax of Rs 158 crore in Q2 FY25, a significant turnaround from the previous year's loss of Rs 50 crore. OYO's revenue increased to Rs 1,578 crore, and it announced the acquisition of G6 Hospitality from Blackstone.

OYO, the travel technology platform, has reported a profit after tax of Rs 158 crore for the second quarter of the current fiscal year, ending in September. This achievement was disclosed by Founder Ritesh Agarwal to employees during a townhall meeting, sources indicated.

The parent company, Oravel Stays Ltd, had suffered a loss of Rs 50 crore in the corresponding quarter of the previous year. The recent results mark a significant financial turnaround for the company, which posted a first-quarter profit of Rs 132 crore.

Furthermore, OYO's revenue showed an impressive increase, rising to Rs 1,578 crore in Q2, compared to Rs 1,413 crore in Q1. This growth coincides with OYO's announcement of acquiring G6 Hospitality, the parent company of Motel 6 and Studio 6 brands, from Blackstone.

(With inputs from agencies.)