{"id":23345,"date":"2024-08-28T00:00:00","date_gmt":"2024-08-27T20:00:00","guid":{"rendered":"https:\/\/stockify.net.in\/?p=23345"},"modified":"2025-02-03T14:57:43","modified_gmt":"2025-02-03T10:57:43","slug":"oyo-posts-first-ever-annual-profit-of-rs-229-crore-in-fy-2024","status":"publish","type":"post","link":"https:\/\/tester-hub.com\/stockifyfintech\/blog\/oyo-posts-first-ever-annual-profit-of-rs-229-crore-in-fy-2024\/","title":{"rendered":"Oyo Posts First Ever Annual Profit Of Rs 229 Crore In FY 2024"},"content":{"rendered":"\n<p>Hospitality unicorn Oyo has reported its first-ever profit after tax (PAT) of about Rs 229 crore for the financial year 2023-24 (FY24), as revealed in its latest annual report. The company stated that this remarkable turnaround comes on the heels of eight consecutive quarters of positive Adjusted EBITDA, demonstrating the company&#8217;s sustained financial improvement.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-oyo-ceo-reflects-on-first-annual-profit\">OYO CEO Reflects on First Annual Profit<\/h2>\n\n\n\n<p>Ritesh Agarwal, the founder of OYO, shared this milestone with platform X (previously known as Twitter) to announce the company&#8217;s financial achievement.<\/p>\n\n\n\n<p>Agarwal tweeted. &#8220;One big learning for me over the years is under-promise and over-deliver. Our audited results are published post-adoption by the board. The effort of OYOpreneurs has delivered Rs 229 crore net profit, exceeding my earlier estimate of Rs 100 crore&#8221;.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-financial-performance-of-oyo\">Financial performance of OYO<\/h2>\n\n\n\n<p>As per the latest annual report, financial performance has shown significant growth. Let&#8217;s delve into the key aspects of OYO&#8217;s financial performance that contributed to this achievement.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-oyo-s-ebitda-surge\">OYO\u2019s EBITDA Surge<\/h3>\n\n\n\n<p>The Gurugram-based company&#8217;s adjusted EBITDA saw a 215% growth to Rs 877 crore in FY24 from Rs 277 crore in the last fiscal year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-positive-eps-earning-per-share\">Positive EPS (Earning per share)<\/h3>\n\n\n\n<p><a href=\"https:\/\/economictimes.indiatimes.com\/markets\/stocks\/earnings\/oyo-reports-first-ever-pat-of-rs-229-crore\/articleshow\/112514703.cms?from=mdr\">OYO&#8217;s Earnings Per Share (EPS) stood at nearly Rs 0.36 in FY24<\/a>, marking a significant turnaround from the loss per share of approximately Rs 1.93 reported in FY23. This positive shift in EPS reflects the company&#8217;s improving financial health and operational efficiency.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-strong-performance-drives-oyo-s-inventory-growth\">Strong Performance Drives OYO&#8217;s Inventory Growth<\/h3>\n\n\n\n<p>The company experienced significant growth in FY24, driven by strong business performance and increased market demand. As a result, it expanded its hotel inventory <a href=\"https:\/\/www.newindianexpress.com\/business\/2024\/Aug\/14\/oyo-reports-first-ever-profit-with-rs-229-crore-pat-for-fy24\">from 12,938 properties in FY23 to 18,103 in FY24<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-revenue-consistency-amid-expansion\">Revenue Consistency Amid Expansion<\/h3>\n\n\n\n<p>The annual report stated, &#8220;The new additions will require time to reach their full revenue potential, with financial returns expected to become evident in the future. As a result, the company&#8217;s consolidated revenue from operations remained stable at \u20b95,388 crore, compared to \u20b95,463 crore during the financial year 2022\u201323.&#8221;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Strategic Cost Optimization<\/h3>\n\n\n\n<p>The company successfully decreased its total expenses by a significant 13%, from Rs 5,207 crores in the previous fiscal year to Rs 4,500 crores in FY24. This remarkable achievement was the result of:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Streamlining operational expenses<\/li>\n\n\n\n<li>Reducing general and administrative costs<\/li>\n\n\n\n<li>Optimizing marketing expenditure<\/li>\n<\/ul>\n\n\n\n<p>Notably, OYO managed to execute these cost-cutting measures while simultaneously growing its revenue, showcasing the company&#8217;s ability to balance efficiency with expansion.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-oyo-strategic-plan-and-global-expansion\"><br>OYO Strategic Plan and Global Expansion<\/h2>\n\n\n\n<p>The annual report highlighted OYO&#8217;s global expansion efforts, noting growth across Europe, the US, Southeast Asia, and the Middle East.&nbsp;<\/p>\n\n\n\n<p>Europe, being the largest market for vacation rentals, presents a significant opportunity for OYO&#8217;s home business, OVH.<\/p>\n\n\n\n<p>As part of its international growth strategy, <a href=\"https:\/\/indianstartupnews.com\/news\/oyo-acquires-paris-based-checkmyguest-for-rs-230-crore-6864679\">OYO has acquired K&amp;J Consulting<\/a>, which manages the luxury rental homes company Checkmyguest Group in Paris, France. This acquisition was completed through a share swap agreement.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-about-oyo\"><br>About OYO<\/h2>\n\n\n\n<p>OYO Rooms is an Indian multinational hospitality chain that operates a network of branded budget hotels and homes. It serves as an aggregator for these venues, providing a platform that connects customers with various hotels.&nbsp;<\/p>\n\n\n\n<p>Founded in 2012, OYO is backed by SoftBank, which is a significant investor in the parent company Oravel Stays, the entity that operates OYO Hotels and Homes.<\/p>\n\n\n\n<p>As the company prepares for its initial public offering (IPO), it has successfully secured a <a href=\"https:\/\/www.sharkbuzz.co.in\/all\/oyo-secures-rs1457-crore-in-series-g-funding-amid-valuation-drop-and-strategic-restructuring\">substantial Rs 1,457 crore through its latest Series G funding round<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-investment-opportunities-in-oyo-s-unlisted-shares\"><br>Investment Opportunities in OYO&#8217;s Unlisted Shares<\/h2>\n\n\n\n<p>OYO is spread across 80 countries with 1 million rooms, and this new hotel is an addition to the list but can contribute more than a few rooms combined. The growth line of OYO is rising each year and is driving many to invest in it. The\u00a0<a href=\"https:\/\/stockify.net.in\/companies\/oyo-rooms-oravel-stays-ltd-unlisted-shares\/\">OYO share price is currently\u00a0<\/a>trading around  \u20b944-\u20b945 per share.<\/p>\n\n\n\n<p>If you want to invest in OYO, today is the best time. Get in touch with Stockify before the&nbsp;<a href=\"https:\/\/stockify.net.in\/companies\/oyo-rooms-oravel-stays-ltd-unlisted-shares\/\">OYO rooms share price<\/a>&nbsp;increases. Stockify is India\u2019s leading unlisted stock trading platform. Helping investors like you invest in trending&nbsp;<a href=\"https:\/\/stockify.net.in\/unlisted-shares-price-list-india\/\">unlisted shares<\/a>&nbsp;from the comfort of your zone.<\/p>\n\n\n\n<p><a href=\"https:\/\/stockify.net.in\/contact\/\">Connect<\/a>&nbsp;with our experts to know more.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hospitality unicorn Oyo has reported its first-ever profit after tax (PAT) of about Rs 229 crore for the financial year 2023-24 (FY24), as revealed in its latest annual report. The company stated that this remarkable turnaround comes on the heels of eight consecutive quarters of positive Adjusted EBITDA, demonstrating the company&#8217;s sustained financial improvement. OYO [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":26522,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"footnotes":""},"categories":[1],"tags":[207],"class_list":["post-23345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-oravel-stays-ltd-oyo-rooms"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Oyo Posts First Ever Annual Profit Of Rs 229 Crore In FY 2024 - Stockify Fintech<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oyo Posts First Ever Annual Profit Of Rs 229 Crore In FY 2024\" \/>\n<meta property=\"og:description\" content=\"Hospitality unicorn Oyo has reported its first-ever profit after tax (PAT) of about Rs 229 crore for the financial year 2023-24 (FY24), as revealed in its latest annual report. The company stated that this remarkable turnaround comes on the heels of eight consecutive quarters of positive Adjusted EBITDA, demonstrating the company&#8217;s sustained financial improvement. 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